Economy of Tamil Nadu

Economy of the Indian state of Tamil Nadu.

Macro-economic trend

This is a chart of trend of gross state domestic product of Tamil Nadu at market prices estimated [cite web|url=http://mospi.nic.in/mospi_nad_main.htm|title=National Accounts Division : Press release & Statements|publisher=Government of India|accessdate=2006-08-16 ] by "Ministry of Statistics and Programme Implementation" with figures in millions of Indian Rupees.

Chennai is the leading software exporter in India, followed by Bangalore. India's largest IT park is housed at Chennai. Software exports from Tamil Nadu rose from Rs.76,000 million ($1,600 million) in 2003-04 to Rs.110,000 million ($2,400 million) in 2004-5. [http://www.hindu.com/2005/06/20/stories/2005062013350700.htm Exports in software likely to increase] ] Chennai is a hub for e-publishing, as there are 47 e-publishing units registered with the STPI in Chennai and 25 in Bangalore. Companies such as HCL, Wipro, TCS, Satyam, Infosys, Cognizant Technology Solutions, Covansys, Ford Information Technology, Xansa, Verizon, iSoft, iNautix, Electronic Data Systems, Bally and many others have offices in Chennai. Infosys Technologies has set up India's largest software development centre to house 25,000 software professionals at an estimated investment of Rs.12,500 million ($270 million) in Chennai. [http://in.rediff.com/money/2004/feb/26infosys.htm Infosys setting up giant centre in Chennai] ] India's largest IT park is housed at Chennai, jointly made by Ascendas India Ltd, a Singapore-based company engaged in providing business space solutions, and Tamil Nadu Industrial Development Corporation (TIDCO). [http://www.elcot.com/itnews/apr05/nie020405.htm India's largest IT park at Chennai to have world-class workplace facilities] ]

Business Process Outsourcing Services:

Chennai is now emerging as the most preferred destination for high-end BPOs in financial services, healthcare and other back-office services for multinational companies. Companies like Ajuba Solutions (Global provider of healthcare revenue cycle outsourcing services), Congruent Solutions (back-end services for California-based retirement funds), Secova eServices (HR service provider for US clients), Firstsource (Business Process Management for BFSI, Healthcare, Telecom and Publishing clients), Lason India (data processing for healthcare and financial services clients in the US) and OfficeTiger (outsourcing of creative works) have set up centres here to take advantage of Chennai's "quality talent pool and infrastructure". Stanchart, eServe (Citibank),ABN AMRO and World Bank have also chosen the city for their back-office functions. [http://www.elcot.com/itnews/mar05/net010305.htm Chennai becomes most preferred BPO hub] ]

In the recent surveys, Chennai has been rated as the most attractive city for Offshoring Services. [http://www.thehindubusinessline.com/2006/04/02/stories/2006040202550100.htm Chennai most attractive city for offshoring services] ]

Knowledge Process Outsourcing:

Chennai is also the preferred destination for companies outsourcing their high-end knowledge intensive operations. Testimony to this is the presence of major market research companies such as Frost & Sullivan and equity research companies such as Irevna in Chennai. This is the next high growth area that Chennai is witnessing.

Revenues of Government

Tamil Nadu ranks second nationwide of all State governments in tax revenue. ("See:" States of India by tax revenues.)This is a chart of trend of tax revenues (including the shares from Union tax pool) extracted from the Consolidated Fund of the Government of Tamil Nadu [cite web|url=http://www.tn.gov.in/budget/finance/revenue%20receipts.pdf |title=Tax Revenue Receipts|format=PDF|publisher=Tamil Nadu Government|accessdate=2006-08-16] with figures in millions of Indian Rupees. See also the Finance Commission of India report. [cite web|url=http://fincomindia.nic.in/thirdreport.htm|title=Finance Commission Report|publisher=Finance Commission of India|accessdate=2006-08-16 ] Tax revenues of local bodies are excluded.

This is a chart of trend of non-tax revenues and grants-in-aid [http://www.tn.gov.in/budget/finance/revenue%20receipts.pdf extracted] from the Consolidated Fund of the Government of Tamil Nadu with figures in millions of Indian Rupees. See also [http://fincomindia.nic.in/thirdreport.htm] and [http://www.tn.gov.in/budget/archives/eighteen_year_accounts/revenue_account_receipts.pdf] . Non-tax revenues of local bodies are excluded.

ee also

*Jatropha incentives in India

Notes