Chennai

Chennai (சென்னை in Tamil), formerly known as Madras, is the capital of the state of Tamil Nadu and is India's fourth largest city. It is located on the Coromandel Coast of the Bay of Bengal. With an estimated population of 7.45 million (2005), the 367-year-old city is the 41st largest metropolitan area in the world.

Economy

Chennai has a diversified economic base driven primarily by the auto, IT and services industries. Chennai is a major manufacturing centre in India. Other important industries include petrochemicals, textiles and apparels. The Chennai Port and Ennore Port contribute greatly to its economic importance. The city's stock exchange is called the Madras Stock Exchange.

Related Topics:
Stock exchange - Madras Stock Exchange

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Since the late 1990s, software development and business process outsourcing have also emerged as major areas in the IT sector. The IT Corridor on Old Mahabalipuram Road in the southeast of the city houses several technology parks. The largest of these is Tidel Park, built by TIDCO. The Mahindra World City, a Special Economic Zone (SEZ) with one of the world's largest information technology parks, is currently under construction in the outskirts of Chennai{{inote|infosys|infy}}. Other SEZs are coming up in the satellite town of Sriperumbudur. There are a few biotechnology parks like the TICEL bio-tech park and Golden Jubilee bio-tech park at Siruseri. Union IT and Communications Minister Dayanidhi Maran has been instrumental in attracting Foreign Direct Investment to the city.

Related Topics:
1990s - Software - Business process outsourcing - Tidel Park - TIDCO - Mahindra World City - Special Economic Zone (SEZ) - SEZ - Sriperumbudur - Dayanidhi Maran - Foreign Direct Investment

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Chennai is the base for over forty percent of India's automotive industry. A large number of the automotive companies in India are based in Chennai, mainly in the Ambattur-Padi industrial zone. Several automotive companies such as: Hyundai, Ford, Mitsubishi, BMW, TVS, Ashok Leyland, Caterpillar, Royal Enfield, TI Cycles and MRF have manufacturing plants in and around Chennai. The Heavy Vehicles Factory, Avadi produces military vehicles, including India's main battle tank: Arjun.

Related Topics:
Ambattur-Padi industrial zone - Hyundai - Ford - Mitsubishi - BMW - TVS - Ashok Leyland - Caterpillar - Royal Enfield - TI Cycles - MRF - Heavy Vehicles Factory - Avadi - Main battle tank - Arjun

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Chennai is an important centre for banking and finance. At present it is home to three large national level commercial banks and many state level co-operative bank. Large financial companies and insurance companies are also headquartered in Chennai. Many Indian banks, multi-national banks and the World Bank have located their back office operations in the city. The city also serves as a major back up centre for operations of many banks in India. The city is a major manufacturing centre with facilities ranging from small scale manufacturing to large scale industrial manufacturing. There are a large number of apparel industries located in the Ambattur-Padi industrial zone.

Related Topics:
World Bank - Ambattur-Padi industrial zone

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