Tamil Nadu is one of the most developed states in the country. The state has
succeeded in reducing poverty and raising its standard of living. Literacy level
in the state is one of the highest among all Indian states.
The state is witnessing rapid industrialization with overall economic
development. It has grown as a manufacturing powerhouse in the country,
especially in automobiles and textiles. The textile units in the state are known
across the world. The state is home to one of the largest automotive component
industries in the country. A number of international auto giants including Ford
and Hyundai have set up their manufacturing facilities in the state with an
investment of over US$ 1 billion. The state's capital city, Chennai is called the
'Detroit of India'.
The software exports from the state grew at 700 per cent during 1998 and
2001.The state houses the largest transshipment facility in Asia. Chennai is
ranked first with respect to technology exposure and responsiveness and is rated
as an ideal location for software projects.
The State Government has taken various policy initiatives to facilitate
growth in the industrial and services sectors. Various steps have been taken to
upgrade infrastructure in the state. A number of policy measures such as single
window clearance and easy entry to investors have made the state a chosen
destination for FDI. Tamil Nadu is one of the first states to formulate an ITES
and biotech policy. The state is vigorously highlighting the business
opportunities it has to offer in the biotech and IT sectors. Funds have been
created for promoting the state at national and international trade conferences.
existing infrastructure to world-class standards. A six-lane IT corridor (IT
expressway) between Chennai and Sirueri (IT Bay area) has been commissioned.
P&O Ports' investment has made the turnaround time at Chennai port among the
lowest in the country. The state now boasts of one of the lowest power tariffs in
the country. Two submarine cables connecting Chennai and Singapore will
substantially increase the existing bandwidth for communication, making Chennai
the 'Connectivity Gateway of India'.
