Software exports has risen from Rs 37 crore to Rs 1,890 crore during the same period, with a targeted software export of Rs 8,000 crore and hardware export of Rs 5,000 crore. The Rs 338 crore Tidel Park, is the largest Information Technology park in Asia, with a built-up space of 1.28 million square feet. The Government has also recognised IT as a thrust area and is cooperating with the industry for further growth and development. The retail market is heavily concentrated in Chennai. As far as the consumer durables market is concerned all changes take off from Chennai.
Customers here take informed decisions.
Most experts put this sudden surge of retail in Chennai to the easy availability of commercial space and transparency in real-estate transactions. With most members of this class getting into careers in the new economy, purchasing power has improved. The average Chennaite was usually happy to invest his disposable income in fixed deposits and watch his bank balances grow. But even as he comes of age in choosing a profession, which belongs to the booming knowledge-based sector, he has more disposable income in hand and his spending habits have changed drastically. Once labeled 'price-sensitive', the Chennai customer is today being referred to as 'value conscious'.