Banking and Financial Services: Chennai is the financial hub of South India and has a strong presence of major Indian financial institutions and foreign banks. Several banks including the World Bank, ABN-AMRO Bank and Standard Chartered Bank have their back offices in Chennai.
Human Resources: Tamil Nadu has abundant availability of skilled manpower and has an annual turnout of about 77,500 engineers graduating from 252 engineering colleges & 50,300 Diploma holders from 202 Polytechnics. Besides, Chennai city has reputed international schools including an American International School to provide quality education for children of expatriates.
Medicare: Chennai is the healthcare capital of India with world-class hospitals and speciality clinics to provide excellent health care facilities.
Manufacturing:According to CMIE, at the end of July 2003, Tamil Nadu leads in attracting new investments into the manufacturing sector in India. Over the years, many industries have been facilitated to mature, thereby engendering a very diversified industrial base. Tamil Nadu’s share of the industrial output is around 11 to 12% of the country’s output and 15% of the country’s exports excluding Software exports. Tamil Nadu accounts for about 17% of India’s software exports.
The State enjoys a predominant position in respect of the following industries:
Leather: Tamil Nadu accounts for 70% of leather tanning capacity in India and 38% of leather footwear & components. The exports from Tamil Nadu are about US $ 762 million, which account for 42% of Indian leather exports.
Automobile Ancillaries: Tamil Nadu accounts for about 21% of passenger cars, 33% of commercial vehicles and 35% of automobile components produced in India. Exports from Tamil Nadu are about US $ 240 million, constituting 27.5% of exports from India. Chennai, the “Detroit of India” is emerging as a major export hub for cars in South East Asia. Major automobile manufacturers like Ford, Hyundai, HM-Mitsubishi, Ashok Leyland, TAFE, etc. have their manufacturing base in Tamil Nadu.
Textiles and Garments: Tamil Nadu has a large cotton textile industry cluster which accounts for about 39% of India’s capacity. Textiles & Garment exports are about US $ 3 Billion. Opportunities exist to increase exports after removal of export quota restrictions under WTO.
Chemicals and Petro-chemicals: The State enjoys a strong presence in chemical industry. Tamil Nadu has chemical clusters at Chennai (Manali), Cuddalore, Panangudi (Nagapattinam) and Tuticorin. Tamil Nadu has vast vistas of opportunities to become an export hub.
Agro and Food Processing: Tamil Nadu has diverse agro-climatic conditions and is endowed with rich agro resources. Tamil Nadu is one of the top three producers of a variety of fruits and vegetables in India that offers substantial potential for value addition. Its long coastline (1000 Km) offers opportunities for marine products based industry. Export of marine products from Tamil Nadu is about US $ 450 million. Industries in Tamil Nadu operate in a peaceful industrial environment. The Industrial Policy of 2003 aims to build on these strengths.
