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Traders to cash in on city’s fast-paced growth rate

Trichy: After being adjudged the cleanest and most liveable city of the state in the same year, Trichy has now been identified as the eighth fastest-growing city in the world in terms of gross domestic product (GDP). With the city earning yet another accolade, the trade bodies here have resolved to leave no stone unturned to sustain the achievements, attract more investments and create employment opportunities.
The United Kingdom-based global forecasting and quantitative analysis group, Oxford Economics, has stated after an economic survey that 17 of the 20 fastest-growing cities in the world are in India. Among the top 10 such cities, Trichy has even surpassed state capital Chennai in terms of the projected growth rate of GDP between 2019 and 2035. After being a leading city in terms of cleanliness and liveability, the recognition for the city’s economic growth has elated city-development enthusiasts and trade bodies.

Already, trade bodies like Young Indians (Yi) of Confederation of Indian Industry (CII) have started highlighting the achievements of Trichy to attract investors and entrepreneurs to consider it for their future business ventures. “As we are striving to promote a startup culture in Trichy, we have to market our city’s credentials such as cleanest city, most liveable city, and now the fastest-growing city. Such recognition will certainly be used for attracting investments,” N Ratnakumar, chair, Young Indian (Yi), Trichy chapter, told TOI.

Since the city figures in the defence industrial corridor too, entrepreneurs in heavy engineering and fabrication termed the fastest-growing city tag as a timely upliftment for the city. “Trichy is an accommodative city for industrial growth and the decades-long expertise we have in engineering and fabrication sectors has played a role in becoming the fast-growing city. We will market such tags among international entrepreneurs to invest in Trichy,” said S Ashok Sundaresan, president of BHEL Small and Medium Industries Association (Bhelsia).

Being identified as an education hub of the central districts thanks to the presence of premier technical and management institutes, trade bodies said that sourcing talented human resources should be an easy task for the investors including IT majors. With Trichy’s achievements now taking an international dimension surpassing several other tier-ii cities in the country, trade bodies said that investors would be persuaded to make a foray into the city.

Graphic Elements:

Fastest-growing cities in the world (2019-2035)

Dr M A Aleem, member, Trichy District Welfare Fund Committee:

“Trichy has got a unique comprehensive setup of educational institutes such as NIT, IIM, National Law School, agriculture college and centuries-old arts and science colleges at one place. We should sustain our achievements to invite more private industries to invest here.”

M Muthuganesan, member, Thailand Tamil Sangam:

“Keeping in view the accolades Trichy is fetching for the state, including the recent one from Oxford Economics, the government should improve the city’s existing infrastructure. More domestic connectivity through air and rail transport is also the need of the hour.”

N Kanagasabapathy, president of Trichy District Tiny and Small Scale Industries Association (TIDITSSIA):

“We need to enhance the exports we are already sending to the middle east and south-east Asian nations. Without a doubt, trade bodies will utilize the achievements of Trichy to attract investors.”


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