To advance the manufacturing industry in the state to higher value-added segments, the World Economic Forum (WEF) and the Tamil Nadu government aim to establish a "India Centre for Advanced Manufacturing" in Chennai.

A public-private discussion was held in the city on Tuesday by representatives of the government and the World Economic Forum to advance plans for the centre and go over its specifications. The former industries minister (and present finance minister) Thangam Thenarasu had previously informed the state assembly in April about plans to establish an advanced manufacturing centre that would be operational by January 2024.

Over 20 business leaders were part of the meet that set forward the centre's objectives that include fostering national and international collaboration in advanced technologies and supporting companies in innovation, sustainability, and R&D endeavors.

State industries minister T R B Rajaa in the course of the meeting expressed the state's “strong commitment” to establishing an India Centre for Advanced Manufacturing in partnership with WEF. “Leapfrogging into the future of manufacturing using the principles of ‘Industry 4.0’ is crucial to achieving Tamil Nadu CM MK Stalin’s target of a $1 trillion economy in Tamil Nadu. We have already started the digital transformation process, and Tamil Nadu becoming the capital of advanced manufacturing will further bolster our efforts,” he said in a statement.