Coimbatore has been identified as one of the seven cities for the World Bank’s Competitive Cities Knowledge Base initiative as it has had an impressive economic growth.
A two-member delegation from World Bank met the members of Indian Chamber of Commerce and Industry, Coimbatore, here on Tuesday.
The delegation is here till June 18 to study the local initiatives and proactive measures that have helped improve the economic competitiveness of the city.
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President of the chamber R.R. Balasundharam told
It has been selected for the study as its economic growth between 2007 and 2012 was higher than the State’s economic growth and job creation was also high.
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The World Bank delegation members said at the meeting that there are several cities globally where the local officials want to know more about measures that can be taken to accelerate their city’s growth.
The knowledge base will give an insight into measures that can be taken from these successful cities.
Coimbatore will be a case study of an economically successful city in South Asia Region.
The chamber members and representatives of other industrial associations highlighted the factors that have supported industrial growth here.
For instance, the industries grow as a cluster and most of the businesses are family-owned.
HealthcareEntrepreneurship, reverse engineering capabilities and focus on education and healthcare are some of the factors, they said.
They also made a presentation of the successful industrial sectors here (textiles, pumpsets, jewellery, healthcare, foundries, etc).