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Economy of Chennai


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Allianz, Sumitomo Mitsui Banking Corporation, The Bank of Tokyo-Mitsubishi UFJ, Abu Dhabi Commercial Bank, Asian Development Bank, Credit Suisse, BNP Paribas Fortis, Deutsche Bank and Citibank have back office and Development Center operations in the city. Chennai is home to the national level commercial banks Indian Bank and Indian Overseas Bank and many state level co–operative banks, finance and insurance companies. Telecom and Electronics manufacturers based in and around Chennai include Nokia, Nokia Siemens, Motorola, Dell, Wipro, Zebronics, Foxconn and Siemens among others. Telecom giants Ericsson and Alcatel-Lucent, pharmaceuticals giant Pfizer and chemicals giant Dow Chemicals have research and development facilities in Chennai. The TICEL bio–tech park at Taramani and Golden Jubilee bio–tech park at Siruseri houses biotechnology companies and laboratories. Chennai has a fully computerised stock exchange called the Madras Stock Exchange.

A study conducted by the National Housing Bank on the residential price index of Indian cities showed that Chennai experienced the highest growth after the 2008–2012 global financial crisis. Medical tourism is another important part of Chennai's economy with health care providers like Apollo Hospitals and Fortis Healthcare based in the city. The Tamil film industry and the related Tamil music industry and the Tamil television industry are also significant parts of Chennai's economy.

In the Inventory of World cities from the Globalization and World Cities Research Network, Chennai's level of network integration with other world cities is ranked as a "Beta". The ranking is based on the extent of global reach and influence the city
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