The large-scale business and industrial development of Coimbatore was made possible mainly because of the high literacy rate of 78 per cent in the region.
Over 60,000 registered micro, small and medium enterprises and an almost equal number of unregistered ones operated here alongside 500 to 600 major companies and industries, according to M. Settu, Chief Executive Officer of Syndicate Exports.
He was addressing ‘Coimbatore Conclave’ organised on Friday by PSGR Krishnammal College for Women as part of its ‘Golden Jubilee’ and ‘Founders Day of GRG Trust’ celebrations. A panel discussion on the topic – Coimbatore as a hub of education towards entrepreneurship – was organised on the occasion.
Speaking on ‘Focus on SMEs,’ he said that the city accounted not only 40 per cent of the country’s textile production but also 85 per cent of the machinery manufactured for this sector and 50 per cent of the pump and motor production.
It was also poised to become a major destination for information technology companies and the CODISSIA Trade Fair Complex was among the largest in the country, he added.
Speaking earlier on conclave theme, B.K. Krishnaraj Vanavarayar, chairman of Bharatiya Vidya Bhavan, said that the college, on the occasion of its golden jubilee, should contemplate the challenges and opportunities in higher education, foresee change and change accordingly to remain relevant.
With India having one of the fastest growing economies in the world, a lot of opportunities were available for the youth who comprised 65 per cent of the country’s population, he said.
Speaking on ‘Technology excellence,’ A.V. Varadharajan, Managing Director of Sandfits Foundries, defined it as something that devised simple ways to make life easier. Science, he said, by itself would not be of any help unless it was converted into technology that benefited mankind.
While focussing on their careers, he urged the 5,000-odd women students to also think about their country. To become an entrepreneur, money was not the vital criterion as many of the present-day business empires were built by people from humble beginnings.
Delivering a lecture on ‘Focus on management of higher education,’ S.K. Sundararaman, Director of Bannari Groups, said that Coimbatore had among the highest concentrations of higher education institutions.
Touching upon ‘The spirit of Coimbatore,’ K. Ilango, Director of RSM Autocast, said that agriculture, industry and services must all be developed together as one without the other would result in lop-sided development.
Nandini Rangaswamy, Founder Trustee and Secretary of GRG Institutions, and S. Balasubramanian, Director of GRG School of Management Studies, spoke on the occasion.