Economy of Tamil Nadu It produces the 70 percent of the total salt production in the state and 30 percent in the country. Chennai is nicknamed as "The Detroit of Asia". Chennai is home to large number of auto component industries. Over 11.2% of the "S&P CNX 500" conglomerates have corporate offices in Tamil Nadu. Tamil Nadu has manufacturing facilities from automobiles, railway coaches, battle-tanks, tractors, motorbikes and heavy vehicles to ships. Alstom has a manufacturing facility in Coimbatore which manufactures rail transportation products. MRF the local tyre manufacturer is located in Chennai and Perambalur. TI cycles of Murugappa group have their units in
State Industries Promotion Corporation of Tamil Nadu and Manapparai soon. SIPCOT IT Park is the largest Information Technology Park in Asia, located in Padur, Siruseri, along the IT Corridor, Chengalpattu taluk, Kancheepuram District. State Industries Promotion Corporation of Tamil Nadu The State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT) (), Limited is an institution owned by the Government of Tamil Nadu. The State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT) was formed in the year 1971, to promote industrial growth in the State and to advance term loans to medium and large industries The Functions of State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT)