Chennai Creating Conducive Environment For Businesses

By: Rachita Sharma, special Editor | Monday, 9 May 2022

Chennai has always played a critical role in India's business and economic landscape. Right from 1958 when the city saw the setting up of the country's very first industrial estate at Guindy to today, the city has been at the forefront of industrial development in the country.

Over the years, the city of Chennai which was earlier known as Madras, has experienced drastic transformation. Primarily dominated by family owned enterprises between 1950 and 1980s, Chennai had a stronghold in various sectors such as manufacturing, engineering, and automobiles. Known as the `Detroit of India' Chennai housed the cluster for all major auto-component manufacturing and housed giants such as TVS, Amalgamations and Rane.

 Currently the city contributes close to 30 percent of India's four-wheeler production and leads the pack when it comes to auto part production.

Today the city has adapted to the new-age tech era and is teeming with upcoming entrepreneurs and business leaders from industries such as AI, SaaS, BFSI to name a few. While earlier traditionalist family-owned companies were averse to people from `outside' to invest in businesses, things have relatively eased in today's age.

Digital transformation has also brought with it a new wave of business-models and operations. The city is also becoming a hub for data centers and work spaces which is a way promotes entrepreneurship by reducing the capital expenditure for new businesses. The city is also a haven for women entrepreneurs.

In fact an IIT Madras study found that Tamil Nadu is home to thehighest number of women entrepreneurs across India. The study found that great networking opportunities, institutional support such as government aid and subsidiesand familial support were key factors behind the growing number of entrepreneurs in TN.

Fuelled by passion, the love for facing new challenges, the desire to build something from scratch and in pursuit of work-life balance a host of women entrepreneurs are creating successful businesses across the state. While income and profits might be relatively lower, yet women entrepreneurs from Tamil Nadu stated that they were satisfied.

According to the study, the women are also confident in continuing the business. Our current edition of Women Entrepreneur India brings to a list of such inspirational corporate women leaders from Chennai. These women and their professional journeys serve as a fine blueprint for the women leaders of the next generation.

Do let us know your thoughts.