South India Outpaces National Economic Growth: Chief Economic Advisor

2025-02-11 02:12:32

(MENAFN- KNN India) New Delhi, Feb 11 (KNN) India's Chief Economic Advisor, Dr. V Anantha Nageswaran, revealed that South India is leading the country's economic progress with a GDP growth rate of 6.3 per cent, significantly higher than the 5 per cent growth rate observed in the rest of India.

The announcement came during his address at the Mystic South Global Linkages Summit 2025, organised by the Confederation of Indian Industry's Southern Region.

The southern region's economic prominence is particularly evident in its manufacturing sector, with Tamil Nadu contributing 20.4 per cent to South India's manufacturing GDP, primarily driven by automotive, textiles, and electronics industries.

The region also demonstrates stronger workforce participation, with Andhra Pradesh and Telangana notably achieving over 50 per cent women's participation in the workforce, making them the only Indian states to reach this milestone.

A newly released report titled '2047 Southern Odyssey: Powering Ahead to a USD 10-Trillion Economy' underscores the region's economic significance, noting that South India contributed 31 per cent to India's overall GDP in 2023-24.

Tamil Nadu and Karnataka emerged as the top performers, followed by Telangana and Andhra Pradesh. The per capita income in the southern region has grown at 5 per cent annually, surpassing the national average of 4.2 per cent.

During the summit, Dr. Nageswaran emphasised the importance of industry-academia collaboration and urged businesses to view research and development as an investment rather than an expense, focusing on long-term strategic competitiveness.

R Mukundan, CII Vice President and CEO of Tata Chemicals, highlighted the role of public-private partnerships in driving development across infrastructure, manufacturing, and renewable energy sectors.

He emphasised that as India targets a USD 30-trillion economy and Tamil Nadu aims for a USD 40,000 per capita income, the development of smart industrial zones, export logistics, and social infrastructure will be crucial for sustainable growth.

(KNN Bureau)

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