A budding entrepreneur’s ground to soar high and dig their pennant in the pages of Forbes; Mahindra World City is India’s first operational SEZ (Special Economic Zone) and the country’s first integrated business city. It is a public-private venture by Mahindra Group and TIDCO (Government of Tamil Nadu Enterprise).
A General Overview
Mahindra World City, Chennai breaks the norms of conventional business zones. It is a carefully carved corporate ecosystem that is integrated to operate with regulation and efficiency.
Cementing its formidable position on the business map of India, Mahindra World City cloaks corporate giants like Capgemini, Infosys, Lincoln Electric, Renault-Nissan, Tesa SE, Federal Mogul, Parker Hannifin, Wipro and many more. The third quarter of 2017 marked the number of companies in this integrated business city to be at 64.
Mahindra World City in Chennai spans over 1550 acres and houses established tycoons of the corporate world from varied business divisions and sectors like information technology, fashion, apparel, auto, etc.
Luxury automobile player BMW rolled out their plant for the latest vehicle 3 Series Gran Turismo in MWC Chennai.
General Attributes of the Business City
What makes this a breeding ground for dynamic and aspiring entrepreneurs?
Chennai’s Mahindra World City is India’s first IGBC Gold certified green township. Located on NH 32 (earlier NH 45) on the Golden Quadrilateral, it is one of the prestigious projects of the Government of Tamil Nadu.
The distinguished zones for different sectors are: –
Specific SEZs for three different sectors – IT, Auto Ancillary, Apparel and Fashion Accessories
It also houses a Domestic Tariff Area (DTA). Exports to DTAs are liable for all taxes and duties which are liberalised in a SEZ or EOU.
The last one entails a residential zone comprising amenities and infrastructure for social and retail purposes. Mahindra World City also sells and rents out apartments and flats for accommodation.
It also facilitates waste and water treatment provisions. They have in-house management for this purpose.
Logistics and Transportation
Mahindra World City is well connected and easily accessible via road and railways alike. The Paranur railway station is on site. It is about 35kms away from Chennai International Airport and about 55kms from Chennai Seaport. Paranur station is the first station under the venture of a corporate giant and Southern Railways.
Thus, this business city facilitates feasible transportation and economically smooth movement of goods, labour, etc.
Financial Highlights
This Chennai’s SEZ has indicated reasonable growth in exports every financial year. Till quarter 3 of 2017, it has marked exports of worth INR 8,567 Crores.
Mahindra City job vacancies flourish tremendously every year, employing more than 95,000 employees in 2017.
The investments tied up in this project amounts to be at an impressive INR 5,105 Crores.
Sibling Projects
Mahindra World City also has a sibling project located in Rajasthan, Jaipur.
It employs over 29,141 people. Hence Mahindra World City Jaipur jobs generation is considerable, and it houses around 71 companies presently.
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