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Old July 25th, 2010, 01:03 PM   #1
Mad 4 Madras
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Chennai Economy Thread

On the lines of Mumbai Economy thread, here's a dedicated thread for Chennai's Economy.

Chennai's Economy is expected to be $150 bn by 2025 as per Confederation of Indian Industry (CII) study.

Chennai is already a diversified economic base anchored by the Automobiles, IT and ITES, Financial Services, Trade n Commerce, Healthcare, hardware manufacturing.

Chennai has a market share of around 30% of India's automobile industry and 35% of its auto components industry, which by next year expected to be even higher with Nissan-Renault entering the foray, the recent jewel on its crown.

Chennai is on its way to expand from its current 174sq.km to 424sq.km by 2011, which would drastically increase its GDP share.

You can post all economy related news in this thread. GDP of Chennai as of March 2010 is around $67 Billion as per Rediff.com.
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Old July 25th, 2010, 01:08 PM   #2
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Madras Stock Exchange

The Madras Stock Exchange (MSE) is the fourth Stock Exchange to be established in the country, and the first in South India. It had a turnover (2001) of Rs 109 Crores ($25 mn) but is a fraction (below 0.1%) of the turnover generated by the BSE n NSE. In 1996, the MSE was fully computerised and online trading became operational, as the MSE was connected to 120 broking offices in and around Chennai through Wide Area Networking. The MSE has about 120 live members and 1,785 companies listed. The exchange follows the Rolling Settlement system, as per the January 2000 Securities Exchange Board of India (SEBI) Guidelines and a proactive Grievance Cell is operational. By this system, investors can log in their complaints, for which a number will be given for further reference, through which investors can keep track of the action taken by the exchange as regards their complaint.

A subsidiary company - MSE Financial Services Ltd, has been established. A member of the Bombay Stock Exchange, MSE Financial Services will help create greater broker and investor flexibility through multi-market access. Hereafter the members will be able to trade in both BSE and MSE. This will be followed up with National Stock Exchange (NSE) membership.

Current turnaround of MSE is not known, would appreciate if someone has the info.
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Old July 25th, 2010, 01:28 PM   #3
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Chennai Contributes around 39% of State's GDP.
Chennai contributes more than 50% of India's leather exports.
Chennai is second largest IT Exporter behind Banglore.
Chennai is nicknamed 'The Detroit of South Asia', 'Healthcare Capital of India', 'Southern Gateway of India'.

Kollywood town Kodambakkam has the second largest film Industry of India after Bollywood.
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Old July 25th, 2010, 01:34 PM   #4
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Will Chennai be the Aero City of India?

Chennai Aero Park sucked up to become the largest integrated aerospace ecosystem in the world. The project is a pioneering initiative to mark India's entry into the global aerospace industry. The aero park will enable global players to design, manufacture and maintain all types of aircraft for both civilian and defense needs. It is to be established as a Public-Private Partnership (PPP) entity.
Already the city is home to more than 20 companies in the aerospace field. The establishment of this park will make chennai, the Aero City of India.


Hope this doesn't go away.
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Old July 25th, 2010, 06:46 PM   #5
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Quote:
Originally Posted by Mad 4 Madras View Post
Chennai Contributes around 39% of State's GDP.
any other proof for this claim other than wiki?

Chennai city's State income as per TN gvt website shows pnly 8.5% contribution.

Is state income and GDP different?
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Old July 26th, 2010, 06:55 AM   #6
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Yes, Income and GDP are very much different. GDP includes total cost of finished goods and services produced by a person as well.

There are many source available, but could not get into any TN Government websites as it is blocked for me here. One other Link

But their trustability is a yellow question mark.
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Old July 26th, 2010, 07:04 AM   #7
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Almost all sources mentions Chennai Zone, which may include Kancheepuram and Tiruvellore Districts as well.
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Old July 26th, 2010, 08:30 AM   #8
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Talking TN status among india

Tamil Nadu ranks 1st among all States in the Country, with 5640 species, 1/3rd of the total flora of India. This includes 1559 species of medicinal plants, 533 endemic species, 260 species of wild relatives of cultivated plants

Tamil Nadu ranks first nationwide in diesel-based thermal electricity generation with a national market share of over 34%.[citation needed] 55% of all wind-generated electricity in India is created by windmills in Tamil Nadu.


As of 2005, Tamil Nadu is one of the few Indian states with surplus Electricity generation capacity, enabling the electrical authority to sell it to neighbouring states of Andra Pradesh & Karnataka.

Tamil Nadu's tourism industry is the second largest in India, with an annual growth rate of 16%.[148] Tourism in Tamil Nadu is promoted by Tamil Nadu Tourism Development Corporation (TTDC), a Government of Tamil Nadu undertaking. The tagline adopted for promoting tourism in Tamil Nadu is Enchanting Tamil Nadu. Approximately 1,753,000 foreign and 50,647,000 domestic tourists visited the state



Tamil Nadu has a major international airport, Chennai International Airport, that is connected with 19 countries with more than 169 direct flights every week. This is currently the third largest airport in India after Mumbai and Delhi and has a passenger growth of 18%


The state has a total road length of 167,000 km (103,769 mi), of which 60,628 km (37,672 mi) are maintained by Highways Department. This is nearly 2.5 times higher than the density of all-India road network.


Chennai Port is an artificial harbour situated on the Coromandel Coast in South-East India and it is the second principal port in the country for handling containers


country's largest exporters of knit wears
Tamil Nadu is one of the highly industrialised states in India

Tamil Nadu has historically been an agricultural state and is a leading producer of agricultural products in India. In 2008, Tamil Nadu was India's fifth biggest producer of Rice

Tamil Nadu has a network of about 113 industrial parks and estates offering developed plots with supporting infrastructure

Mango and Banana are the leading fruit crops in Tamil Nadu accounting for over 87% of the total fruit production


Tamil Nadu has 37 universities,[61] 454 engineering colleges.[62] and 1150 arts college, 2550 schools and 5000 hospitals.[citation needed] Some of the most reputed educational institutes present in Tamil Nadu are University of Madras, IIT Madras, TANUVAS(Tamil Nadu veterinary and Animal sciences university), PSG College of Technology, Coimbatore, Anna University (includes MIT Chennai – Madras Institute of Technology (First college in India to start Electronics & Aeronautics progra, Chennai, VIT University Vellore, NIT Tiruchi, Christian Medical College & Hospital Vellore, Bharathidasan Institute of Management Trichy, Madras Medical College, Loyola College, Chennai, Tamil Nadu Agricultural University, Coimbatore and Annamalai University. The Indian Institute of Management is scheduled to open in Trichy by 2009-2010.[63] Tamil Nadu produces the highest number of engineering graduates in India (around 1,30,000) every year which attracts many software companies to set up their shop in south India.

And many more i didn't mentioned .....
:
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Old July 26th, 2010, 08:42 AM   #9
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TN Aero Park planned at many locations in phases

Quote:
Originally Posted by Mad 4 Madras View Post
Chennai Aero Park sucked up to become the largest integrated aerospace ecosystem in the world. The project is a pioneering initiative to mark India's entry into the global aerospace industry. The aero park will enable global players to design, manufacture and maintain all types of aircraft for both civilian and defense needs. It is to be established as a Public-Private Partnership (PPP) entity.
Already the city is home to more than 20 companies in the aerospace field. The establishment of this park will make chennai, the Aero City of India.


Hope this doesn't go away.
The Tamil Nadu Aero Park is being planned to be put up at multiple locations in the State keeping in view the strengths of each location and investor preferences. The eco system for aerospace industry will be developed in phases in Chennai (Meenambakkam), Sriperumbudur, Hosur and Perambalur.

The aerospace ecosystem can potentially create direct and indirect employment for 100,000 highly skilled resources and can attract an investment of nearly $10 billion. This ecosystem will enable global players to design, manufacture and maintain all types of aircrafts for both civilian and defence needs, according to Tamil Nadu Industrial Development Corporation (Tidco) request for proposal (RFP) for a consultant.

While the Chennai park will cater to design, engineering and manufacture of components, and MRO (maintenance, repair and overhaul), Hosur (this is closer to Bengaluru) and Perambalur (near Tiruchi) will have an integrated park covering all aspects of the value chain right design, engineering, manufacture and MRO.

While the aircrafts' component manufacturing complex is being planned in around 100 acres (expandable) near Sriperumbudhur, the satellite MRO will be in 50 acres near Chennai airport in Meenambakkam. Each of the park and in Hosur and Perambalur will be designed to be self sustaining in the long run and complement each other.

PPP mode

The State Government had earlier announced that the aerospace park will be established through Public Private Partnership model to facilitate the growth of aerospace industries utilising the strengths and capabilities in engineering, auto and IT Sector in the State.

The eco system will have dedicated runways, design and engineering city, manufacturing complex, satellite MRO facility, research and development centre and test laboratories, training/ simulators complex, aviation university, warehouse complex and MRO complex. In addition, there will be software and IT complex, pilots aid complex, international convention centre, global residential village, captive power generation complex, hospital, schools and other integrated amenities.

Consultant

As a first step Tidco will select a consultant to do a Techno-Economic Feasibility Study and Marketing Assistance for establishing the aerospace park. The consultant should go into various areas such as global aerospace industry, growth drivers, trends, potentials, prospects, investment climate, regulatory policy implications and government support, Tidco's RFP says.

http://www.thehindubusinessline.com/...1651481900.htm
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Old July 26th, 2010, 08:52 AM   #10
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On top of the above message... there is a lot more identified and to take shape in a while in places around chennai...which again proves that TN is well on track to take momentum on aerospace verticle and first of its kinf in the whole of asia..

See below:

Aviation academy to come up near Vellore
The Madras Flying Club (MFC) is setting up a full-fledged aviation academy in Vellore, which will be the first of its kind in Asia. Here, anyone with a dream of flying can get a commercial pilot’s training on easy terms.

“The proposed aviation academy with wide a variety of courses will be a prestigious project of the state and will also be a first of its kind in Asia. We have already completed preliminary discussions with the state government,” said Capt. Sebastian, secretary of the 80-year-old club. “The MFC has demanded certain long-term requirements from the government for the academy’s infrastructure. The state government has already earmarked seven acres of land for the project but the total project might require a minimum of 80-90 acres of land,” Capt. Sebastian added.

MFC has also requested for the revival of the scholarship programme, which was stopped in 1991 from the state government. “Besides seeking more assistance from the government in fuel subsidy and other recurring expenditures, for which we are already getting Rs 7.5 lakh from state government, the MFC has also asked for the revival of scholarships that would benefit nearly 40 Private Pilot Licence (PPL) and Commercial Pilot Licence (CPL) candidates,” said an MFC official.

The proposed aviation academy in Vellore will be a full-fledged school of aviation that will offer various courses including commercial pilot training, aviation engineering, advanced aviation safety training, communication technology training and also exclusive courses in ground operations and aircraft cabin management.

Senior financial advisers of the state will soon finalise the total budget for the project after consulting with leading aviation experts in the sector.

http://www.deccanchronicle.com/chenn...ar-vellore-210
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Old July 26th, 2010, 12:05 PM   #11
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This thread is slowly but surely losing its way and becoming more of a TN economy thread...
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Old July 26th, 2010, 01:24 PM   #12
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True Ferrari!! But thats inevitable!! Either we have a separate thread once again to highlight TN economy or just accept the fact that always there will be overlapping of info when we refer to Chennai economy and TN economy.

So its upto moderators to decide if it makes any sense to open a new tread for TN economy?
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Old July 26th, 2010, 02:12 PM   #13
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what will be the difference between this thread and

1. Chennai Projects thread
2. Tamilnadu projects thread.
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Old July 26th, 2010, 03:48 PM   #14
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Thankx Arul for asking this question.

If you plot a Venn diagram and then see that , Chennai's economy is a part of TN's economy. But not the other way around.

I would like to quote few examples of what could be the grey area....
If you check the discussions above reg Aero industry then what might come up in Vellore has been mentioned along with Chennai. Thats why Ferrari_fan had mentioned this is has become TN tread.

Now coming back, if you take TN as such you have some many different industries which doesnt exists or has partial presence in Chennai. Some are Textiles, food processing, printing media (Sivakasi is number 1), firecracker buisness, food processing, agriculture, education and many more which becomes a part of the complex TN economy.

Added to it, TN is the most urbanized state. So obviously, district based economy exists unlike other states. Even if check "State of States" ranking by India today (Every year around September), they would have mentioned different criteria to adjudge which the best states (where economy of a state plays a bigger role).

But having said that, it might sometimes become really confusing when something is written about Chennai. Where to write it. In Chennai or in TN economy thread. Even I am too little confused about it. So I leave it to wise people like you make a better decision. (If little overlapping is accepted may be Chennai economy thread will do)....

Thats my opinion!!!
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Old July 26th, 2010, 04:16 PM   #15
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Nanbargalae, why do we need this thread? Do we have enough to talk on this for long to keep the thread active?
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Old July 26th, 2010, 05:49 PM   #16
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economy includes, auto, IT, hotel etc industries. for each of them, we have alrdy dedicated threads, as well as others could be discussed in general threads like "Chennai Projects..". hard to justify this thread, and will end up in confusion for forumers, "where to post what?"
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Old July 26th, 2010, 07:16 PM   #17
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I am little against what has been told by Chennai_indian & seku. I would certainly like to have a tread for CHENNAI ECONOMY!! Thats for sure. But for TN... its debatable.

When there is a project update.... yes for that we have a dedicated tread!!
When there are construction updates (infrastructure, residential and others).... yes there are dedicated threads for them!!

But in coming years when more projects reaches their completion, companies are bound to move in. After that, whats left over is the TURN OVER. So there needs to be thread that does discusses these aspects. For example, Mahindra city is now operational. But I am equally interested in knowing the impact it has created on Chennai economy. So these kind of aspects could be discussed in this thread.

And as far as Chennai is concerned, we have diversified economy. An economy that depends on Auto, IT - Both software & hardware, Chemical industry, CA & Banking, Medical, Film world etc(Few industrial sectors that I know in Chennai). And in future if things goes well, we could add Aero, Financial sector, Tourism turnover toooo.

So if we keep discussing them under Chennai discussions, even that makes no sense. This is because so many people do have a look at these facts & figures. And it might (who knows) even act as an Eye Opener!!!

So guys, I will give thumbs up for this thread. Just a clear demarcation is required to identify if even TN related economical aspects could also be included here!!
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Old July 27th, 2010, 08:15 AM   #18
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My actual intention to start this thread is stated above by SaySenthil. There are so many Industries bustling in and around Chennai with lots of Job promises and big figure amount investested. But whats the output? I thought of discussing these and also about various industries (Auto, IT, Auto Components etc...)

For every project we have a separate thread but the same makes it very difficult to calculate the overall economic activity of a city. To be simple, how much monetary worth is Chennai? How valuable it will be to make investment in Chennai? What is the return guarantee and what about the investor's confidence? What plans we have to draw new investments? How a candy is Governments policy really?

Yes the economy as a whole is macro. It consists of everything, from Real Estate, Industries to Education. It yields huge statistics and records. Where do we put all these stats? In projects thread or in discussions thread? It is better to have a thread as such to place them. Thats my 2cents.
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Old July 27th, 2010, 09:05 AM   #19
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I would encourage the forumers to use this thread to Brand Chennai.
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Old July 27th, 2010, 11:24 AM   #20
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One of my friends used to work for a premium rating agency and he used to have a huge wealth of statistics, dished out by various Govt ministries at the centre and the state.

He demosnstrated once to me - two opposing conclusions from the same statistics.

GDP and Inflation figures given by the Govts can be plied anyway to arrive at any kind of results which we want.

The Central Consumer Affairs ministry was saying inflation was going down when actually all the prices were going up. The weightage being given to various products tilt the results. They keep changing the weightage, I think to get the desired results.

I stopped believing them, I mean to take at the face value.
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