"Tamil Nadu has attracted several industrial sectors that are a part of India's new economy sectors. In recent years, these industries have helped the state achieve over 13 per cent of GSDP growth. The Census 2001 highlighted that Tamil Nadu has the highest level of urbanisation rate (43.86 per cent) among all states.
The state attracted cumulative FDI inflows of US$ 5.7 billion between April 2000 and May 2010 and is amongst the highest FDI attracting states. FDI inflows have helped achieve greater technological advancement and more exportable products.
At current prices, the Gross State Domestic Product (GSDP) of Tamil Nadu was about US$ 73.7 billion in 2008-09. The average GSDP growth rate from 1999-2000 to 2008-09 was about 11.0 per cent.
Tamil Nadu Industrial Development Corporation Limited (TIDCO), State Industries Promotion Corporation of Tamil Nadu (SIPCOT) and Tamil Nadu Small Industries Development Corporation Limited (SIDCO) are jointly responsible for developing industrial infrastructure in the state. Tamil Nadu Industrial Guidance & Export Promotion Bureau has been constituted with the objective of attracting major investment proposals into Tamil Nadu.
A large number of textile mills and engineering units are present around the city of Coimbatore. The districts of Coimbatore, Tirupurand Erode are referred to as the „Textile Valley of India‟. Tamil Nadu is an important IT hub. It is the second-largest software exporter by value in India, after Karnataka. Software exports from Tamil Nadu have increased from US$ 3.0 billion in 2005-06 to US$ 8.9 billion in 2009-2010 at a CAGR of 31.2 per cent. In the last two decades, Tamil Nadu has attracted investments in the automotive industry, particularly, in cars, railway coaches, tractors, motorcycles, automobile spare parts and accessories, tyres and heavy vehicles. The automotive industry has a crucial role in driving the state‟s economy; it contributes about 8 per cent to GSDP, providing direct employment opportunities to about 300,000 people."State Presentation (November 2010)
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