TN registers impressive growth in IT, Automoblie: CII

Chennai, Apr 26 (UNI) Confederation of Indian Industry (CII) today disclosed that Tamil Nadu had registered an impressive growth in IT, Automobile and Auto compnenet industry during October 2006 to March 2007.

According to the findings of the Bi-annual Industry Monitor Survey conducted by CII - Southern Region, the IT industry, which had increased its revenue by 25 per cent, and the automobile and auto component industry with 18 per cent growth in production have registered an impressive performance during October 2006 to March 2007.

CII carried out the Survey to analyse the performance of the top five sectors of the Southern Region States during October 2006 to March 2007 and to provide an outlook for April 2007 to September 2007 while identifying their issues and concerns.

According to the contribution to the state's economy, the key sectors identified are automotive and auto components, IT, textiles, sugar, and chemical and fertilizers.

During October 2006 to Mar 2007, the IT sector had witnessed a growth rate of 25 per cent as against the previous six months.

The overseas billing had shot up by five per cent to ten per cent and the profit margins had increased by 20 per cent, which had driven the employment scenario of the sector in the State.

The IT sector in the state is expected to sustain the tremendous growth pace in the next half year too.

The expected revenue increase was up to 35 per cent during April 2007 to September 2007.

MORE UNI