Chennai: Industries minister T R B Raaja on Tuesday expressed confidence that Tamil Nadu would cross $18 billion in electronics exports this year as the country’s electronics exports would be around $45 billion. As the industry is expected to grow to $500 billion by 2031, TN has set a target of $150 billion, he said, adding that while scaling exports, TN is pivoting toward research and development to compete globally. At a B2B electronics manufacturing event organised by the Electronic Industries Association of India (ELCINA), he said, “We aim to position TN as the hub for the global South. We have expertise in manufacturing and services. The next big thing is R&D, and I want all of you to start investing in this in a big way. We would also like students and professors to identify the possibilities and gaps in the industry.”He said the state quickly providing additional incentive packages beyond the Centre’s packages has helped it secure five of seven projects under the first phase of the electronics component manufacturing scheme and 69% of all jobs in the second phase. “I must thank the govt of India for being proactive in these sectors. And I am sure they will also appreciate the fact that the states are also adding value to their efforts,” he said. Pointing out global supply chain realignment, Dr Sasikumar Gendham, president of ELCINA said, “To power India’s rise as the world’s electronics engine, we must move from assembly to value creation, from cost advantage to capability advantage, and from fragmentation to a strong ecosystem.”
