Coimbatore, also known as the Manchester of South India is now classified as one of the best investment options in India. Read to know more about the best investment options in Coimbatore.
South India’s Manchester- Coimbatore
Tamil Nadu’s second-largest city, also known as Kovai, Coimbatore is known for the perfectly interwoven cultural heritage and cosmopolitan lifestyle. The place is also famous for its culinary delights, and let’s not forget, the exquisite living that it provides. It is also known as South India’s Manchester because of the prominence of the textile industry. A charm that one cannot deny, and once felt, cannot be forgotten – Coimbatore, where the heart of a happy life begins and is now one among the best investment options as well.
How Industries contribute to the best investment options
Industries are in fact the backbone of an economy, a city, a state. So, the story isn’t much different in Coimbatore too. Coimbatore is emerging as the highest revenue yielding district in Tamil Nadu. What contributes to this is the 25,000 of small scale, medium and large scale industries that are flourishing there. Right from the textile industry to the IT industry, the economy is balanced and is growing with the earned revenues from all these. Of all, the major contributor to Coimbatore’s growth are the developments in the textile industry along with the expanding universe of realty sector.
Let us look deeper into the industries that contribute to the growth of the city and bring Coimbatore under best investment options.
Which industries make the investment in Coimbatore all worth it!
1. IT and BPO industry
Let’s say, apart from the contribution of the textile industry, IT and BPO sector plays a big role as well. With quality educational institutions, great ambiance and favorable government policies, Coimbatore attract companies, especially IT companies. The current growth status is such that Coimbatore is going to be the next after Bangalore in the IT hub category. Also, it is the second-largest software exporter in Tamil Nadu with around 150 crores and even more. Thus, directly or indirectly, this factor contributes to making Coimbatore one among the best investment options in the country.
2. Pump industry
Coimbatore is also known as the pump city of Asia for it contributes over 40% of the country’s requirements. With many major brands rooted in the city, Coimbatore delivers quality products not only in India but also outside the country. The pump manufacturing industry in fact contributes a large share of Indian market share and is sure a promising factor of investment options in Coimbatore.
3. Food industry
As we have already seen, Coimbatore city is famous for its culinary delights. The food processing industry over the city, with many different products ranging from cookies to bakery and even noodles. The place owns some among the oldest flour mills and contributes towards the economic revenue.
4. Automobile industry
The automobile industry is also not far behind the scenes. Auto component industry, along with some known names in the industry like Tata motors has already gained a name in the city. Moreover, being the best outsourcing destination for these auto components, Coimbatore has already expanded outside the nation. Thus, we can conclude that this automobile industry has been an aid in making Coimbatore as the best investment options lately.
5. Retail industry
Though the retail industry hasn’t attained a similar growth phase as that of textiles, IT and all these above mentioned. There are numerous retail outlets, shopping malls and centers in the city which then makes it indeed a good source of investment.
The flourishing textile industry
The textile industry is the mainstay of Coimbatore’s contribution to revenue. In fact, the growth of the textile industry, especially cotton has paved the way for a brighter economy as well. With more than 30,000 industries right from small to medium and large, the industry is ever-expanding and is a prime source of revenue for the nation.
Textile industry forms a major part of the economy in Coimbatore. Yes, not only in earning its profit from textiles but the city also provide institutions where the young generation can gain knowledge about the same. Through experiments, researches and studies, it stresses on bringing more success to the industry. Wouldn’t the growth of this industry make Coimbatore a good investment option?
The realty hotspot – Coimbatore
It wasn’t long ago that Coimbatore overtook the many then-existing metropolitans and evolved as the soul and heart of the realty sector. The reason is quite obvious, being situated in a comfortable paradise on earth, between the tourist hotspots like Ooty, Kodaikanal, and Coorg, Coimbatore holds a great place in the realty sector too. The city is brimming with housing projects, for example, Casagrand Aqua, new launches like Isha Monarch, ready to move in projects like The Summit, etc.
Moreover, the concept of affordable houses is also common at Coimbatore.
Now, let us read about why Coimbatore is best for investment options?
5 reasons why Coimbatore is best for investment options?
Here are why Coimbatore is a perfect place for investment, in fact, one among the best options if you want a home a little away from the crowd. Check out the reasons.
1. One of the top 20 smart cities in India
What more than this term “one of the top 20 smart cities in India”?
Yes, Coimbatore boasts being one among the top 20 cities in India. With the fast-paced growth in all sectors, and being the business and industrial centers, the city offers a promising lifestyle too. With much focus on a sustainable living environment, top infrastructural and civic amenities, the city focuses on all the nodes required for a smart city. Moreover, with the incorporation of E-governance, intelligent transport system, etc, it continues to be smart in all ways.
2. South India’s prestigious industrial hub
With a place for all industries and constituting 25,000 functioning enterprises, Coimbatore is South India’s already established industrial hub. Even the name South India’s Manchester also comes from the prominence of the textile industry. Apart from the textile industry, all the above-mentioned industries also contribute to the economic growth and make Coimbatore one among the best options of investment.
3. The software sector growth
The growth of the software industry is yet another factor that makes Coimbatore a hot investment option. Many of the tech companies like Cognizant, Ford, TCS, etc have got their big campuses at Coimbatore. Also, the city is no less in e-commerce companies as well. Along with software / IT, Coimbatore holds many business process outsourcing companies too.
4. Growth of commercial real estate
Commercial real estate is definitely bringing a spark in the mainlands of Coimbatore. Since many of the big tech companies from the major towns are craving a place in the Coimbatore’s commercial real estate, it is easier to make investment options best in Coimbatore. The office space requirement has seen a positive change in the last few years and is still in demand.
5. Sustainable residential real estate
The demand for residential real estate is also not less in Coimbatore’s requirements or growth phase. City’s residential market underwent a completely positive growth in the last few years with steep developments in all other sectors. Since the need for commercial sector real estate is high these days, it directly or indirectly impacts the residential real estate as well. More projects are already coming to the market and many more yet to go. Check HousingMan Coimbatore for more.
The industrial and business growth, along with the need for commercial and residential real estate is definitely making Coimbatore one among the best investment options in India. The recent price trends are definitely proof of this and Coimbatore in fact is the best option for investment in all ways.