Tulu Nadu - Economy

Economy

Historically, Tulu Nadu was primarily dependent on agriculture and fishing. The main crops grown were rice, Bengal gram, horse gram, vegetables and fruits. Plantation crops like coconut, areca nut, cocoa, cashew nut, and pepper are also grown. In the early 20th century, the Mangalore tile industry, cashew nut processing, and the banking industry grew substantially. Tulu Nadu is called "the cradle of Indian banking." Five major banks of India (Syndicate Bank, Canara Bank, Corporation Bank, Vijaya Bank and Karnataka Bank) have their origins here. In the early part of the 21st century the area has been transforming itself into a hub of the information technology and medical services industries. This is due to the excellent educational facilities and hospitals available in Tulu Nadu, covering all fields, and the abundance of skilled workers. There has been large-scale decline in agriculture and related industries due to the non-availability of labour and preference for white-collar jobs. Agricultural land is being converted to commercial and real estate properties, and environmental pollution is increasing drastically due to large-scale deforestation and increase in automobile use. A public sector petroleum refinery (MRPL) was established in the 1990s. Some chemical plants (e.g., fertilizers and pesticides) have been established. Tulu Nadu contributes the second highest revenue to Karnataka state after the city of Bangalore. This region has an international airport at Mangalore which is well connected to the rest of India and middle eastern countries. New Mangalore port (NMPT) is one of the major port of India is located at Panambur, Mangalore.