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Tamil Nadu is one of the most industrialised states in the country. In terms of contribution of the manufacturing sector to the net state domestic product, the state ranks next to Maharashtra. The state has progressed like anything in such a short span of time and this can be assessed from the fact that from the period between 1999-00 and 2006-07, the state's GDP has grown at an impressive rate of 10.69 per cent and reached US$ 58.63 billion.
Primary sector consisting of agriculture and other allied activities has witnessed maximum growth. Even the IT and ITES sectors have largely contributed to the state's economy. During the fiscal year 2004-05, the per capita income of Tamil Nadu stood at US$ 664.9 which was much higher in comparison to the national average of US$ 514.2. The state has been drawing huge investments both from domestic as well as overseas market. It has a strong manufacturing infrastructure that has helped to attract investors. The infrastructure is especially strong in the textile and automobile sector. The state has been making steady progress and performing extremely well on the industrial front. Its literacy rate is one of the highest in the country.
The town of Tiruppur in the Coimbatore district is the largest garment exporting cluster in India. Several international players from the automobile industry have made Tamil Nadu as their base for manufacturing. Hyundai and Ford already have their manufacturing units in Tamil Nadu while others such as BMW and Nissan are in the process of establishing units. A sizable number of companies engaged in the manufacture of electronic goods such as Nokia, Flextronics, Motorola, Foxconn and Dell have chosen Chennai as their South Asian manufacturing hub.
The distribution of income in Tamil Nadu shows that the number of households in the higher income category is much higher than the all India average, which indicates the sign of prosperity. If we compare the state in terms of ownership of assets including personal vehicle and consumer electronics,
Tamil Nadu is way ahead as compared to all-India.
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