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Economy

The economy of Chennai consistently exceeded national average growth rates due to reform-oriented economic policies in the 1970s. With the presence of two major ports, an international airport, and a converging road and rail networks, Chennai is often referred to as the "Gateway of South India". According to the Globalization and World Cities Research Network, Chennai is amongst the most integrated with the global economy, classified as a beta-city. As of 2023, Chennai metropolitan area had an estimated GDP of $143.9 billion, ranking it among the most productive metro areas in India. Chennai has a diversified industrial base anchored by different sectors including automobiles, software services, hardware, healthcare and financial services. As of 2021, Chennai is amongst the top export districts in the country with more than US$2563 billion in exports.

The city has a permanent exhibition complex Chennai Trade Centre at Nandambakkam. The city hosts the Tamil Nadu Global Investors Meet, a business summit organized by the Government of Tamil Nadu. With about 62% of the population classified as affluent with less than 1% asset-poor, Chennai has the fifth highest number of millionaires.

Chennai is among the major information technology (IT) hubs of India. Tidel Park established in 2000 was amongst the first and largest IT parks in Asia. The presence of SEZs and government policies have contributed to the growth of the sector which has attracted foreign investments and job seekers from other parts of the country. In the 2020s, the city has become a major provider of SaaS and has been dubbed the "SaaS Capital of India".

The automotive industry in Chennai accounts for more than 35% of India's overall automotive components and automobile output, earning the nickname " Detroit of India ". A large number of automotive companies have their manufacturing bases in the city. Integral Coach Factory in Chennai manufactures railway coaches and other rolling stock for Indian Railways. Ambattur Industrial Estate housing various manufacturing units is among the largest small-scale industrial estates in the country. Chennai contributes more than 50 per cent of India's leather exports. Chennai is a major electronics hardware exporter.

The city is home to the Madras Stock Exchange, India's third-largest by trading volume behind the Bombay Stock Exchange and the National Stock Exchange of India. Madras Bank, the first European-style banking system in India, was established on 21 June 1683 followed by first commercial banks such as Bank of Hindustan (1770) and General Bank of India (1786). Bank of Madras merged with two other presidency banks to form Imperial Bank of India in 1921 which in 1955 became the State Bank of India, the largest bank in India. Chennai is the headquarters of nationalized banks Indian Bank and Indian Overseas Bank. Chennai hosts the south zonal office of the Reserve Bank of India, the country's central bank, along with its zonal training centre and staff College, one of the two colleges run by the bank. The city also houses a permanent back office of the World Bank. About 400 financial industry businesses are headquartered in the city.

DRDO, India's premier defence research agency operates various facilities in Chennai. Heavy Vehicles Factory of the AVANI, headquartered in Chennai manufactures Armoured fighting vehicles, Main battle tanks, tank engines and armoured clothing for the use of the Indian Armed Forces. ISRO, the premier Indian space agency primarily responsible for performing tasks related to space exploration operates research facilities in the city. Chennai is the third-most visited city in India by international tourists according to Euromonitor. Medical tourism forms an important part of the city's economy with more than 40% of total medical tourists visiting India making it to Chennai.