Economy of Chennai

As of 2022 the Nominal GDP of the Chennai metropolitan area is ₹756,055 crore (US$96.18 billion) [1] Chennai has an economic base anchored by the automobile, software services, medical tourism, hardware manufacturing and financial services sectors with which it contributes to around 31.59% of Economy of Tamil Nadu.

Chennai was recently rated as having the highest quality of life among Indian cities ahead of the other three metros Mumbai, Delhi, Kolkata, based on the "Location Ranking Survey" conducted by ECA International.

[5] Since the late 1990s, software development and business process outsourcing and more recently electronics manufacturing have emerged as major drivers of the city's economic growth.

[6] Major software and software services companies including Altran, Accenture, Cognizant, Capgemini, DXC Technology, SAP SE, Oracle Corporation, Cisco Systems, HCL Technologies, Hewlett Packard Enterprise, IBM, CGI Inc., Infosys, Sopra Steria, Symantec, Tata Consultancy Services, Verizon, Wipro, Virtusa, UST Global, Atos, Dassault Systèmes, Fujitsu, NTT DATA, LTI, Honeywell, VMware, Intel, Amazon.com, Inc., Tech Mahindra, Fiserv, Adobe Systems, AT&T, Philips, AstraZeneca, Wolters Kluwer, TransUnion, Ernst & Young, L&T Technology Services, Mindtree, Shell Business Operations, Athenahealth, Ford Global Technology & Business Center, Ramco Systems, Deloitte, Microsoft, Temenos, Synechron, KPMG, PayPal[7] have development centres in the city.

According to estimates, these engineering colleges and universities consistently generate about 50 per cent of the human resource requirements for the IT and ITES industry that was being sourced from the state, particularly from Chennai.

The IT Corridor, on Old Mahabalipuram Road in the southeast of the city houses several technology parks, and, when completed, will provide employment to close to 300,000 people.

One is under construction at the Siruseri IT Special Economic Zone ("SEZ") and the other one is being planned at the current location of MGR Film City which is just before the existing Tidel Park, in Taramani on the IT Corridor.

[10] Ericsson,[11] Alcatel, Atmel, Texas Instruments, Foxconn, Robert Bosch GmbH, Microchip Technology, Xerox, Nokia Corporation, Siemens have research and development facilities in the city.

Semiconductor companies like SPEL and Tessolve have announced plans to set up or expand manufacturing and R&D centers in the city.

Companies like Flex, Motorola, Ericsson, Samsung, Cisco and Dell have chosen Chennai as their South Asian manufacturing hub.

[12] In 2022, Reliance Industries and Sanmina-SCI formed a joint venture focused on electronics manufacturing in Chennai.

Big EPC and Energy companies have set up their Engineering centres which include Wood Group, KBR, Técnicas Reunidas, Bechtel, McDermott International, Saipem, Worley, Technip, Mott MacDonald, Petrofac,Siemens Gamesa and others.

The city accounts for 60 per cent of India's automotive exports,[16][17][18] which leads it to be called as 'The Detroit of Asia'.

[22] A large number of the automotive companies including several global automotive companies such as BMW, Hyundai, Ford, Citroën, Nissan, Renault, Mitsubishi, TVS Motor Company, Ashok Leyland, Caterpillar, Royal Enfield, TI Cycles, TAFE, Dunlop, MRF, Daimler, Yamaha, Brembo, Michelin, Bridgestone, JK Tyres, Apollo Tyres and CEAT have manufacturing plants in and around Chennai.

Chennai boasts a transaction volume which serves 1.5 billion people across the World through Back office operation.

Cherian Heart Foundation, Hindu Mission Hospital, Regional Institute of Ophthalmology and Government Ophthalmic Hospital, Chennai, Chettinad Health City and Adyar Cancer Institute, Chennai is a preferred destination for medical tourists from across the globe.

It is the capital of the Carnatic Music and Bharatanatyam scene in India, and there are many venues in which artists perform throughout the city.

The aero park will enable global players to design, manufacture and maintain all types of aircraft for both civilian and defense needs.

The city is home to Ashok Leyland Defence Systems, Rane and 56 more aircraft component manufactures.