Tamil Nadu Can Reach $1 Trillion Economy By 2033-34 With 9% Growth, Says Mahendra Dev

On Monday, S Mahendra Dev, the Chairman of the Prime Minister's Economic Advisory Council, stated that Tamil Nadu can achieve a $1 trillion economy by the fiscal year 2033-34 if it sustains an annual real growth rate of 9%. Speaking at a seminar held at Lok Bhavan in Chennai, Dev highlighted the crucial role the state plays in India's overall economic trajectory.

The seminar, titled 'Tamil Nadu’s growth and employment agenda on the journey towards Viksit Bharat @2047', focused on the state's economic roadmap. During his address, Dev noted that Tamil Nadu has already set a target of reaching a $1.5 trillion economy by the year 2036. He stressed that sustaining a higher growth rate is important for the state to realize these long-term goals.

Dev emphasized that economic progress must be multi-dimensional, balancing gross domestic product (GDP) growth with employment generation. He stated that the state’s contribution is vital to achieving the national 'Viksit Bharat @2047' goal because Tamil Nadu is currently one of the fastest-growing economies in India.

"Tamil Nadu should have a plan for 2047," Dev said during the seminar. "The growth should not only be on per capita income, but also on aspects such as employment. The state’s contribution to achieve Viksit Bharat is important as it is one of the fastest-growing economies in the country."

Discussing past economic performances, Dev explained that sustaining a higher growth rate over the long term is key for Tamil Nadu's success. He pointed out that the state previously maintained an average growth rate of 10% between the years 2005 and 2011. However, this growth rate subsequently fell to approximately 6% between the 2012-13 and 2022-23 fiscal years.

The state's economic growth has rebounded over the last two years, showing positive signs of recovery. According to Dev, Tamil Nadu registered an 11% growth in real GDP during the 2024-25 fiscal year, signaling a strong return to a high-growth trajectory that could support its future economic targets.