Coimbatore witnesses change in business ecosystem
Coimbatore’s manufacturing sector is seeing new entrants, including some of the well-known national and international names, and an expansion of its product profile. This is not just a growth of the sector but also a change in the business ecosystem.
Apart from the traditional industries such as textiles and foundries, investments are happening in the valve sector and some niche product manufacturing such as aerospace. During the last two to five years, several international players have started facilities here. Though not many major global companies have invested in the region, Coimbatore’s manufacturing industry is seeing changes.
The city lacks almost nothing, except the need to build on soft skills. The quality of life and availability of facilities have grown. There is better healthcare and education infrastructure. However, youngsters need global portability and hence prefer to move to larger cities for jobs. They now have the potential and opportunities for faster career progress here. Entry of large-scale and global companies attracts talent to the city, especially the experienced mid-level talent, from other cities too. They bring ideas and networks. This will in turn bring in more investments and technology, says an industry source. This can be the tipping point for the industry. Development of human resources is important for any organisation.
Manufacturing, healthcare and education are among the major sectors in Coimbatore, which is known for its entrepreneurship. The healthcare sector attracts the best professionals in the industry. The manufacturing sector has also started seeing senior resources moving into the city, the source points out.