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Coimbatore is one of the fastest growing tier-II cities in India, it has
businesses like textile, IT, ITES and BPO, healthcare, hosiery and
poultry industries. Other growing businesses include software services,
entertainment industry, e-commerce, manufacturing, real estate, jewel
industry etc. Owing to its highly favorable climate, education system,
healthcare system and safety, Coimbatore has been ranked 4th among
Indian cities in investment climate and ranked 17th among the top global
outsourcing cities beating the likes of top cities like Gurgaon and
Hyderabad in business investment.
Business and Investment opportunities in Coimbatore
Textile industry is one of the main industries in Coimbatore and forms a major part of economy of Coimbatore. Because of the extensive textile industry in the city, Coimbatore is sometimes referred to as the Manchester of India. The textile industry of Coimbatore has helped neighboring towns such as Tirupur and Erode grow and prosper. Textiles industries are supported by vast cotton fields which in turn boosts cotton industry too. Coimbatore is also interested in research and development in textile industries which in turn has led to growth of research and academic institutes imparting knowledge to students.
IT and BPO industry
It is another main industry in Coimbatore; Coimbatore is the second largest software producer in Tamilnadu after Chennai. Coimbatore has developed as a hot destination for IT and BPO related services. Several IT parks such as TIDEL park and CHIL have come up in the city and others are under construction which in turn is catapulting IT industry growth in Coimbatore. Companies like IBM, Tata Consultancy Services, Wipro, Robert Bosch GmbH, Cameron International Corporation, Dell, Cognizant Technology Solutions having a presence in the city. Coimbatore is already the second largest hub in India for Cognizant Technology Solutions. With large number of engineering colleges, vast pool of talent, favorable policies by the government, SEZ etc this industry has a very bright future ahead.
Jewellery and Gem Industry
Coimbatore is one of the major gold jewellery manufacturing hubs in India; renowned for making cast jewellery and machine made jewellery is also a major diamond cutting centre in South India. The city is home to about 3000 jewellery manufacturing companies and to over 40,000 goldsmiths. Owing to the presence of a large number of jewellery manufacturers and the strong engineering base, the city is home to a number of companies manufacturing jewellery making machinery.
During last 3-4 decades Indian poultry industry has shown excellent growth and the contribution of Coimbatore has been commendable in this. Coimbatore has the country's largest amount of poultry industries. More and more people are turning into setting up poultry farms as the demand for eggs and poultry meat is increasing in the country.
Coimbatore has a large and a diversified manufacturing sector such as manufacturing automotive components, wet grinder manufacturers, motor and pump manufacturers. Coimbatore is also called as the pump city of Asia. The auto parts industry is significant with Maruti Udyog and Tata Motors sourcing more than 25% of the components coming from Coimbatore. Some of the auto component makers in Coimbatore include PRICOL, Robert Bosch GmbH and Roots Industries.
With rapid growth and globalization, Coimbatore has seen rise in many quality engineering institutions imparting education in various field such as textile engineering, IT and computer science, automation, mechanical etc. With increasing requirement of talent in various industries, educational sector will be always in boom. Coimbatore has several good universities like Tamil Nadu Agricultural University, Bharathiar University, Anna University Coimbatore and other private universities.
Real Estate sector
With the increasing urbanization and life style and large number of people migrating to the city for better opportunities, real estate sector is emerging to be a promising industry. There has been a spurt in demand for residential and commercial properties across all markets in recent years. Due to exorbitant prices of properties in metros like Delhi, Mumbai, Gurgaon, people are eying on buying properties in Coimbatore which are comparatively cheaper and promises better growth in near future.
In the recent years, the city has seen tremendous growth in the hospitality industry. Good hotels like Vivanta by Taj-Surya, Taj Residency, The Residency, CAG Pride, and Heritage Inn etc have presence in the city. But equally important are the less expensive restaurants and hotels where majority of the population have their daily food. So if your restaurant serves quality food and is easy on pocket then you would gain instant fame and money here.
Coimbatore has a large chunk of population being in the age group of 20-30 years, They earn good income and arr very good spenders provided they are given good reason to spend money. Due to all these reasons the prospect of entertainment industry is bright ahead. Popular in this industry is like night clubs, pubs, discothèques, malls, theatres etc which attract large number of youths. Coimbatore has still a lot to catch up with other metros in this area.
Investment in Coimbatore
Coimbatore has number of trade associations which facilitate investment in Coimbatore. A few of them are below:
CODISSIA (The Coimbatore District Small Industries Association)
The Association serves for the growth and prosperity of industries and it has made a significant contribution towards building a strong and stable industrial city of Coimbatore
It provides Common physical Infrastructure for the benefit of Micro and Small Enterprises belonging to Pump, Motor and Foundry Engineering Industry.
SITRA (South India Textile Research Association)
SITRA is one amongst the chain of laboratories in the country providing services and research facilities to the textile industry. It is sponsored by the Textile industry and supported by the Ministry of Textiles.
COJEWEL (Coimbatore Gem and Jewellery Industries Private Limited)
COJEWEL is a common jewellery manufacturing facility that offers a range of services in the manufacturing process including testing, coin stamping, melting, micro wire drawing, laser welding, laser marking, electro plating and enameling etc.