‘People are hardworking and innovative, and the risk-taking is high'
Coimbatore is synonymous with entrepreneurship and is widely known as a self-made city.
The city was created by entrepreneurs, points out Jairam Varadaraj, Managing Director of Elgi. “Entrepreneurship is about having new ideas that are novel and innovative and taking the risk to make it successful,” he says. It is more than making a product. There are several companies now and industrial activity has grown. “It is time now to focus on taking Coimbatore to the next level and its people should do it.”
One of the historical reasons for the city to be rich in entrepreneurship is that agriculture was not lucrative and people were looking out for options for livelihood. The Stanes Mill and Pykara project are two important factors that gave a boost to industrial growth.
Technical education facilities led to the growth of small and medium-scale units. Availability of power, technical education and community leaders who showed the way are some of the important factors that encouraged entrepreneurship.
People here are hardworking and innovative, and risk-taking is high, according to Krishnaraj Vanavarayar, former Chairman of the Southern India Mills' Association.
A.V. Varadarajan, former President of the Indian Chamber of Commerce and Industry, Coimbatore, adds that development of vendors and technical education are two main reasons for the growth of industries here.
“It has inculcated the spirit of entrepreneurship.”
The focus continues to be on manufacture.
The government should encourage industrial growth, he adds.