Chennai is home to more than one-third of India’s automobile sector; it is frequently referred to as the Detroit of India. New entrepreneurs can get assistance from Software Technology Parks of India (STPI) with company registration in Chennai.

In the recent years, Chennai has emerged as a top choice for MNCs and IT firms like Infosys, TCS, Wipro, and Cognizant. For a firm to succeed, Chennai possesses the ideal pool of talent and specialists.

SEZ in Chennai

The Special Economic Zone (SEZ) is one of the main drivers of business establishments and rise of SEZs were established to provide a competitive and hassle-free environment for the promotion of exports from India. These regions typically have business and shared office space in Chennai trade laws that differ from those in other parts of the nation.

The SEZ Act significantly streamlined the application process for new businesses. It offers a single point of contact for clearance on issues involving the State and Central Governments. The main motives here are:

Boost the export trade promotion of goods and services.

Development of new economic activity

Encouraging both domestic and international investment

The creation of jobs

The infrastructure in Chennai is first-rate, and there are incubators and accelerators working on ongoing development initiatives all across the city. Anywhere you want to start a business, you need to have a decent infrastructure, and the serviced offices in Chennai have that.

IT workforce

Due to the abundance of brilliant IT experts, Chennai has become the centre of the IT industry. Other sections of the country are sending IT talent to Chennai. Businesses today need more IT talent than ever before.

To encourage the development of the industry in Chennai, both the public and private sectors have a few fresh initiatives in the works. Additionally streamlined are the licencing and business setup processes.

Rate of Literacy

With an 81.3% literacy rate, Chennai makes it quite simple to find talented and skilled workers. The state is home to numerous prestigious institutions that annually produce enormous amounts of resources.

Compensation

Because Chennai has an almost 20% lower cost of living than other cities, the average income provided to employees is around lower than that of other metro areas like Bangalore, Hyderabad, Pune, or Delhi NCR. Internally and externally, Chennai has excellent transportation connections. The city has air, train, and road connections to other cities. Chennai also boasts a seaport and an international airport.

Supply of electricity

Chennai’s power outage-related problems are minimal. In Chennai, both residential and commercial consumers have access to a 99.7% reliable power supply. An additional benefit of starting the business in Chennai is this.

Chennai is a land of opportunities for businesspeople because of all these factors. After taking into account all of these factors, we can conclude that ser