May 17, 2025

Coimbatore city in Tamil Nadu is poised to make a significant contribution to the state's GDP, with estimates ranging from 30% to 40%. This potential was emphasized by Darez Ahamed, the Managing Director and CEO of Guidance, Department of Industries, Investment Promotion and Commerce, Tamil Nadu, during a recent meeting in Coimbatore. The meeting, organized by the Confederation of Indian Industry (CII) and the Indian Chamber of Commerce and Industry, Coimbatore Chapter, shed light on the city's appeal to Mittelstand (SME) companies in Germany. These companies have established direct connections and partnerships with firms based in Coimbatore, citing the cost-effective solutions and problem-solving capabilities offered by the local companies. Despite facing infrastructure challenges, Coimbatore is perceived as a tier-1 city by Fortune 500 companies and multinational corporations (MNCs), making it a preferred destination for investments. Focus areas for investment in Coimbatore include Global Capability Centres, Research & Development (R&D), and logistics. To facilitate faster approvals for businesses, local enterprises are encouraged to leverage tools like the Single Window System, Biz Buddy, and MOU facilities provided by Guidance, which are already widely used by MNCs. District Collector Pavankumar G. Giriyappanavar acknowledged the incorporation of suggestions from citizens and industry leaders into government initiatives. Members from various industry associations expressed sector-specific needs and expectations during the meeting, including the establishment of a common testing facility, upskilling of the workforce, and attracting Foreign Direct Investment (FDI). The collective feedback will be reviewed and presented to relevant forums for further action, reaffirming the government's commitment to enhancing Coimbatore's position as a key industrial hub.

Read More at Thehindu →

Tags: Coimbatore, Tamil nadu, Gdp, Sme, Investment, Mncs,