Chennai’s economy is expected to increase to around $150 billion from the current $45 billion by 2025. Infrastructure would lead the growth, according to a Confederation of Indian Industry (CII) study.
Speaking to reporters after announcing 'Chennai Version 3.0', to be held here on August 22 by CII, GRK Reddy, chairman, CII – Chennai zone, and managing director, Marg Limited, said the city was changing faster than ever before.
The economic boom, which began with the auto and auto ancillary industries, is now spreading with the growth of IT/ITeS, banking, retail, healthcare and construction industries. By 2025, Chennai’s economy would reach around $150 billion. That's almost 2.5 times the size of Chennai’s GDP today.
Infrastructure, especially airports, ports, flyovers and real estate, will play a key role, which would bring in a revenue of around $60 billion, followed by IT/ITeS — $23.16 billion, engineering – $15.39 billion, and auto – $12.78 billion.
Speaking about ‘Chennai Version 3.0’, he said sessions would focus on the opportunities in Chennai including challenges in sustaining the growth, and creation of a mega city through public-private partnership.
The population in Chennai will increase to 7.89 million by 2025 from the current 2.58 million. The city would require 12,37,481 houses by 2025, 457 colleges and 3,637 new educational institutions to cater to the growing population.