Economy of Coimbatore
The large Trade Fair Ground COINTEC or Codissia Intec Technology Centre (Codissia Complex) is testimony to the fact that all these traders get opportunity to showcase and market their products. It is a boon for small scale industries in Coimbatore. The Indian Chamber of Commerce and Industry, Coimbatore, organized the much acclaimed 'Coimbatore Economic Summit 2012' to present a common platform for all entrepreneurs and business community in Coimbatore.
Trade, information technology, engineering, health care, gems and jewellery, real estate, hospitality industry, textile industry etc. have influenced the economy of Coimbatore. There are two Special Economic Zones (SEZ) - Coimbatore Hi-Tech Infrastructure (CHIL) SEZ and TIDEL Park (set up in 2006) in Coimbatore. Five more SEZs are in the anvil.
Food Processing in Coimbatore has also contributed extensively to its economy. There are many large scale flour mills operating in the city.
There are many retail outlets, shopping malls (e.g. Brookefields mall) and super markets (e.g. Nilgiris super market). The tech savvy population favours e-commerce, e-ticketing and on-line shopping too. This has resulted in the mushrooming of e-commerce companies too in Coimbatore.
The hospitality industry has grown and many five star hotels have sprung up here. These include Taj-Surya, Le Royal Meridian, Trident, Taj Regency, Trident, Park Plaza, Heritage Inn, Mangala International etc.
Textile Manufacturing in CoimbatoreThe cotton fields around Coimbatore have helped in the growth of textile industry in Coimbatore. Textile mills and workers share the common banner of SIMA (Southern India Mill's association) which was established in 1933. Hosiery products are exported from neighbouring Tirupur which is a hub of garment manufacturing companies.
Centre of Excellence for textiles is Meditech, a medical textile research centre in Sitra and Indutech in PSG College of Engineering and Technology. No doubt, Coimbatore is famous for good quality cotton, dyed fabric, vivid patterns and knitwear. The experienced weavers specialize in spinning, weaving in power looms that buzz with activity and produce textiles that are even exported to diverse foreign countries.
Information Technology in CoimbatoreCoimbatore follows Chennai (Tamil Nadu) in software production. The Information Technology parks throughout the city bear testimony to the fact that Coimbatore is rightly called 'Cyber city'. From Infosys, Wipro and Tata Elxsi to TCS, IBM, CSS Corp., Robert Bosch, Accenture a plethora of IT companies have found base in this city.
Manufacturing Industry in CoimbatoreJust like research institutes, Coimbatore boasts of a number of manufacturing industries which produce shoes, electrical components, hardware products, cranes, hoists and lifts etc. There are small scale, medium and large scale industries contributing their bit to the economy of this city. Due to availability of natural resources and skilled personnel and smooth alliances with global manufacturers, several mechanical, industries are thriving here. They manufacture exhaust and braking systems, body components, engine parts, radiators and other such auto components.
Coimbatore has emerged as one of the most trusted outsourcing destinations for the auto component industry. Several factors have contributed to this growth, including ready availability of resources and skilled technical talent. Technical Partnerships and strategic alliances with global manufacturers have given the Coimbatore auto component industry more mileage in the international market.
Today, auto majors with a growing presence in India source both major components and sub assemblies from the city. Several international automotive manufacturers source components ranging from exhaust systems to braking systems, seating, electronic and electrical components, mechanical engine parts, body components and suspensions and radiators among others. Automobile companies in Coimbatore include Mahindra & Mahindra, Maruti Udyog, Tata Motors etc.
Wet Grinders, motor and pumps manufactured in Coimbatore are known for their technical superiority. Many companies offer precision tooling services and customized engineering solutions in diverse disciplines to global industries.
And that extra sparkle is added to the city - a major diamond cutting centre of South India , also by its gold jewellery manufacturing companies! The traders voice their concerns to Coimbatore Jewellery Manufacturers' Association. Coimbatore Gem and Jewellery Industries Private Limited (COJEWEL) too provides various facilities for members of the association. It does not come as a surprise that even the machinery for making jewellery are manufactured in Coimbatore!