Economy of Chennai

Economy Of Chennai

Chennai has a diversified economic base anchored by the automobile, software services, medical tourism, hardware manufacturing and financial services. Other important industries include petrochemicals, textiles and apparels. The Chennai Port and Ennore Port contribute greatly to its importance. The city has a fully computerised stock exchange called the Madras Stock Exchange. Chennai has the fourth largest Gross Metropolitan Product in India.

Chennai was recently rated as having the highest quality of life among Indian cities ahead of the other three metros and Bangalore, based on the "Location Ranking Survey" conducted by ECA International. Chennai has improved its global ranking to 138 in 2006–07 from 179 in 2002–03. It is now ranked at 26th position in Asia in terms of livability, up from 31st rank in 2002–03. According to a 2007 worldwide quality of life survey done by Mercer, Chennai received the second highest rating in India, with New Delhi scoring the highest, and came in at a relatively low 157th worldwide. The reason was attributed to poor health and sanitation, and the increasing air pollution. It has the distinction of being called as The Detroit of Asia, Banking Capital of India, Health Capital of India.

As of 2012, the city has about 34,260 identified companies in its 15 zones. Of these, 5,196 companies has a paid-up capital of over 5 million, about 16,459 companies are in the paid up capital range of 100,000 to 200,000, and 2,304 companies have a paid-up capital of less than 100,000.