Coimbatore is quickly establishing itself as a significant economic powerhouse, boasting an impressive per capita income of ₹3.67 lakh in 2022-23. This figure notably surpasses Tamil Nadu’s average of ₹2.75 lakh and the national average of ₹2.2 lakh, positioning the city for remarkable future growth. This promising outlook was a central theme at a recent panel discussion held in Bengaluru, focusing on Coimbatore’s boundless potential.
During the discussion, K.S. Viswanathan, a strategic advisor in the Global Capability Centre sector, expressed immense optimism, stating that ‘the sky is the limit’ for Coimbatore. He highlighted the anticipated influx of 300 to 400 new Global Capability Centers (GCCs) into smaller Indian cities. For Coimbatore to capitalize on this, he emphasized the critical need to enhance its capacity, infrastructure, and connectivity.
Even decades ago, Coimbatore displayed its pioneering spirit. M. Balasubramaniam, a prominent figure in real estate, recalled establishing the city’s very first mall approximately 40 years ago, long before it achieved metropolitan status.
Historically known as the ‘Southern Manchester of India,’ Coimbatore has a rich heritage in cotton, spinning mills, textile machinery, and pump manufacturing. The city also embraced the IT revolution early, opening its first IT park in 1995. Today, it stands as an educational hub with 100 engineering colleges, producing over 50,000 graduates annually.
The panelists collectively agreed that attracting diverse businesses to Coimbatore requires a concerted effort to build capacity, cultivate talent, and ensure robust connectivity.
Further suggestions included leveraging cost advantages and appointing a dedicated brand ambassador to promote Coimbatore’s unique appeal.