C. Vijayakumar, the Chief Executive Officer and Managing Director of HCL Technologies, emphasized that Tamil Nadu possesses the essential ingredients to transition into a $1 trillion economy.
He noted that the state benefits from a diverse economic landscape that ranges from manufacturing to a variety of service sectors. The services industry itself is quite expansive, encompassing information technology, finance, agriculture, and various product sectors. This insight was shared during a panel discussion focused on leveraging information technology to accelerate Tamil Nadu’s journey towards a $1 trillion economy, held at UmagineTN 2025 on Thursday.
According to Vijayakumar, Tamil Nadu’s economic growth is widespread, extending far beyond just Chennai. There are approximately 10 to 15 cities in the state that boast robust infrastructure and a conducive business environment.
To achieve the target of a $1 trillion economy, he highlighted that the state’s per capita income must rise to between $10,000 and $15,000, which aligns with the income levels of middle-income countries. Currently, Tamil Nadu’s per capita income is slightly over $4,000.
Vijayakumar outlined three key elements that are crucial for this economic transformation. First, there must be a focus on developing high-quality talent. Second, access to quality job opportunities is essential. Finally, it is imperative that all components of society—government, academia, and citizens—align towards fostering a culture of high productivity.
He further stated that the state’s efforts should not merely concentrate on low-skill, high-volume jobs but should instead prioritize the development of high-end skills and the creation of quality employment opportunities.
