The Puducherry economy and the growth of industries.
The infrastructure of Puducherry is growing rapidly, and, therefore, it provides a favorable atmosphere for industries. Light engineering, like the auto component, industries are one among the major industries here. There are some major companies here as the power tariffs are quite lower and also attract investors. The union territory has 5,500 small scale industries, 23 large scale, and 80 medium scale industries. There are some significant industries like textiles, chemicals, metals, food processing to name a few. One of the major industries is tourism due to the previous French connection. Here there is a lot of scope for eco-tourism, marine products and footwear and rapid investment is expected. The chemical industry is a major contributor to the economy of Puducherry.
The rise of the economy
Puducherry has a gross domestic product of $ 1.399 billion in 2004-5 and the per capita income in Puducherry is % 766. The value of industrial units here is around $ 10,000 crore. Several government incentives are also provided here, and there are plenty of projects lined up. The stable socio-political environment works in the favor of the development of the state. The proximity to airports, ports, railroads, etc. has contributed lot to the development. Fishery and agriculture are also important segments of the economy in Puducherry. Most of the people still depend on agriculture for their livelihood. The 50 km coastline also works favorably for fishing and fishery industries. There are 30 fishing villages which contribute to the industries. Tourism is also one of the main industries here which also give opportunities to hotels, spas, amusement parks, resorts, restaurants, etc.
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