Tamil Nadu possesses the second largest economy (2012–13) among states in India after
Maharashtra.
[1][2] It is the second most industrialised state next to Maharastra.
[3][4] As of 2010–11 Tamil Nadu had a Per Capita GDP of $1,622, the sixth highest in India. Tamil Nadu's gross state domestic product for the year 2011–2012 was 4.28 trillion (
short scale) or $145,868 Million. The state has shown a growth of 9.4% in the year 2011–2012. Tamil Nadu is the most industrialised state in India.
According to the 2011 Census, Tamil Nadu is the most urbanised state in India (49%), accounting for 9.6% of the urban population while only comprising 6% of India's total population. Service contributes to 45% of the economic activity in the state, followed by manufacturing at 34% and agriculture at 21%. Government is the major investor in the state with 51% of total investments, followed by private Indian investors at 29.9% and foreign private investors at 14.9%. Tamil Nadu has a network of about 113 industrial parks and estates offering developed plots with supporting infrastructure.
[5] It has been ranked first by the Economic Freedom Rankings for the States of
India[6]
Automotive
Main article:
Automobile industry in Chennai
Many heavy engineering and manufacturing-based companies are centred in and around the suburbs of
Chennai (nicknamed by some, "The
Detroit of Asia")
[4]. Global vehicle manufacturing giants like
Hyundai,
Ford,
BMW,
Mitsubishi,
Komatsu,
Nissan-
Renault,
Daimler Trucks,
Caterpillar Inc.,
Caparo and
Michelin as well as domestic heavyweights like Madras Rubber Factory (
MRF),
TI cycles of India,
Ashok Leyland,
Royal Enfield,
Mahindra & Mahindra,
TAFE Tractors and The
TVS Group (TVS) have manufacturing investments in Chennai. Everything from automobiles, railway coaches, battle-tanks, tractors, motorbikes and heavy vehicles are manufactured in Tamil Nadu.
Heavy Vehicles Factory in avadi was established in 1965. A large number of auto component industries are present around
Coimbatore &
Erode cities. Namakkal district has emerged as one of the transportation hubs of the TN State. About 40 per cent of the trucks operated in the State are from Namakkal and the district, noted for truck body building, has over 18,000 trucks, including 3,000 tankers and 2,500 trailers, with an annual addition of approximately 500 trucks. Karur is known for its bus body building industries where most of the buses used in south India are manufactured. Over 11.2% of the
S&P CNX 500 conglomerates have corporate offices in Tamil Nadu.
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