Coimbatore Attractive Investment Destination In South India
Coimbatore is the second largest city in the state of Tamil Nadu
, after Chennai. The city has a very pleasant climate, unlike most other South Indian cities that experience extremely hot temperatures. Today, Coimbatore is one of the most preferred investment destinations of India.The main industries of the city are textile and engineering. Because of the extensive textile industry in the city, Coimbatore is sometimes referred to as the Manchester of India. As a matter of fact, the textile industry of Coimbatore has helped neighboring towns such as Tirupur and Erode grow and prosper. Both these towns are garment manufacturing hubs. Most business establishments in the city are operated by local entrepreneurs.
Lately, information technology (IT) companies have stepped into the city. Coimbatore is fast developing as a hot destination for IT and BPO related services. Several IT parks have either already come up in the city or are under construction.
Coimbatore is home to many engineering colleges. Thus, IT investment in this city was inevitable as qualified manpower is easily available. The IT and ITES (IT Enabled Services) policies of the Tamil Nadu government have played a very important role in the development of the IT sector in the city of Coimbatore.
Coimbatore is a preferred destination for studies for many students due to the large number of courses, such as engineering, nursing, medicine and law, being offered here. Another upcoming field is medical tourism. The city has witnessed a steady stream of people coming in from different parts of the country and the globe for world class health care at a fraction of the cost.
Over 40,000 small, medium and large scale industries in the city cater to engineering companies all over the country. The city of Coimbatore is also home to a large number of jewelers who are mostly engaged in the export of jewels.
Due to the scenic beauty of the city of Coimbatore and its proximity to other hill stations such as Ooty, Coimbatore attracts a large number of domestic tourists every year. Thus, investing in the tourism industry of the city is also a very lucrative option.
The economic base of the city is expanding fast and the government of Tamil Nadu is trying to keep pace with it by providing adequate infrastructures.
The government has proposed several projects to cope with the economic development of the city. An agency called the Coimbatore Urban Development Authority has been set up to look after the infrastructure projects in the city. Roads are being widened and more flyovers are being built to improve accessibility to the city. The government of Tamil Nadu is encouraging the participation of the private sector in the infrastructural development of the city. The government is also taking appropriate steps to make the process of investment in the city easier and is working towards removing procedural hurdles.
Coimbatore is well connected to other major cities of the country by road, rail and airway networks. The city enjoys a steady supply of electric power and water. The telecommunication infrastructure of the city is also state of the art.
The city of Coimbatore is undergoing tremendous changes at a very fast pace. The economic environment of the city is very conducive for investment.
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