Coimbatore is the second largest city in Tamil Nadu with the second largest population conglomeration after Chennai. Coimbatore is also deemed to be one of the boom cities of India, which is expected to see tremendous developments in infrastructure and economy. In 2011, the revenue growth of Coimbatore was 65%, which was two times the national revenue growth of 30%. The even more surprising thing is that it is the highest revenue generating city ahead of even Chennai and thus, making it one of the fastest growing two-tier city.
Though the economy of Coimbatore is predominantly textile, earning the nickname of ‘Manchester of India’, there are other industries like Information Technology (IT), engineering and manufacturing which are gaining grounds here. It is still one of the biggest importers and manufacturers of textile products. With a city of around 4 million people, it has everything that it is necessary for companies to think of viable investment plans – good human resource, manufacturing history and a commitment of the government for infrastructural development.
Being the administrative region of the Kongu Nadu region, there are a number of government centres here. Thus, when it comes to jobs in Coimbatore, there are a number of avenues of opportunities here and with the rate at which the infrastructure is growing one can expect a lot in the future.
Let us look at various industries that provide a good picture why Coimbatore can be a backbone for Tamil Nadu’s economy:
- Textile industry
As mentioned already, the textile industry dates centuries back and is the dominant economy of the city. The traditional styles of woven apparel and fabrics are still in great demand all over the world and the government is coming up with plans to strengthen the traditional textile industry. But to move with the changes in the industry, new technologies are being used by the companies to increase the production. The initiative shown by the government in this regard has also been of great advantage to the textile industries here.
Coimbatore is one of the largest exporters of textile products and due to the high demands the production of hosiery has also increased manifold. The city is thus, one of the most attractive places for those who are into textile engineering and export business.
- IT industry
The IT industry is always a big player when it comes to employment and economy of a place. The city has established itself as the second largest software producer in the state after Chennai, and is now ranked 17th among the global outsourcing companies. Prominent IT parks like the TIDEL Park has offices of multinational companies like CTS, Wipro, TCS and Infosys.
The government is also trying to woo the various IT companies in Bangalore by giving attractive incentives. With all this and a cost effectiveness of more than 35 percent in comparison to Chennai, Coimbatore can be rightly said that it will become a hotspot like Bangalore for highly skilled professionals in a few years.
- Manufacturing industry
The manufacturing industry of Coimbatore is also an old one and is highly diversified. Due to the presence of a number of good engineering colleges in the city, the companies find it easier to get hold of skilled human resources. The main manufacturing industries are composed of automobile components and motors. Some of the prominent manufacturers are Larsen & Toubro, Bosch and Lakshmi Machine Works.
- Real estate and hospitality
With the growing interest of companies to establish their offices in Coimbatore, the demand for commercial spaces have grown and along with it the demand for residential properties also due to the influx of professionals working in the IT and manufacturing industries. Thus, it has opened a lot of opportunities for civil engineers and those who are in the real estate market. The hospitality industry is also booming with the increase in business travellers.
With the amount of opportunities that is being seen in the above industries, it is safe to say that Coimbatore is a city that is going to act as a major economy influencer of the state after Chennai.
Hasib is a knowledge junkie and an SEO writer in the job portal – naukri.com, and often writes on topics related to career. When he is not involved in writing, he is contemplating his next journey to the hills or to the new restaurant he came across. Follow him @ twitter, Google+, LinkedIn