Kumbakonam - Economy

Economy

The important products of Kumbakonam include brass, bronze, copper and lead vessels, silk and cotton cloths, sugar, indigo and pottery. Kumbakonam is considered to be the chief commercial centre for the Thanjavur region. As of 1991, around 30% of the population was engaged in economic activity. Rice production is an important activity in Kumbakonam. Of 194 industrial units in Kumbakonam, 57 are rice and flour mills. Kumbakonam is also a leading producer of betel leaves and nuts; the betel leaves produced in Kumbakonam are ranked amongst the best in the world in terms of quality. The A. R. R. Agencies, a leading manufacturer of arecanut slices has its factory in Kumbakonam. The main administrative offices of T. S. R. & Co., a cosmetic company, are also based in Kumbakonam. Kumbakonam is also famous for its metal works. The Tamil Nadu Handicraft Development Corporation had been established in the nearby town of Swamimalai in order to train bronze artisans. Kumbakonam is an important silk-weaving centre and more than 5,000 families were employed either directly or indirectly in silk weaving. Silk weaved in Kumbakonam is regarded as one of the finest in the subcontinent. They are largely used in the manufacture of Thirubuvanam silk sarees. Kumbakonam was also an important salt-manufacturing area during British rule. In recent times, Kumbakonam has emerged as an important manufacturer of fertilizers.

Apart from its manufactures, tourism is also a major source of income for the town. The Hindu temples and colonial-era buildings have been recognised for their tourism potential. The 12th-century Airavatesvara Temple in the town of Darasuram near Kumbakonam is an UNESCO World Heritage Site. Kumbakonam is also frequented by art collectors interested in handloom cloth and other curios. Banks such as the Bank of Baroda, State Bank of India, Tamilnad Mercantile Bank, Canara Bank, Indian Bank, Indian Overseas Bank, Bank of India, Union Bank of India, Corporation Bank, Lakshmi Vilas Bank, ICICI Bank, ING Vysya Bank, Karur Vysya Bank, Punjab National Bank, Syndicate Bank and Vijaya Bank have their branches in Kumbakonam. Kumbakonam is the home town of century old private sector bank City Union Bank Limited The City Union Bank was founded in Kumbakonam in 1904 as the Kumbakonam Bank Limited having its Central office at Kumbakonam.