Tamil Nadu is located in the South lying in the peninsula between the Bay of Bengal in the East, the Indian Ocean in the South, the Western Ghats and the Arabian Sea on the West. Chennai has emerged as the hub of commercial activities due to its strategic location which has given it a competitive advantage. Its climate favours port operations all round the year which is a big plus point. It has a fantastic network of banking and financial institutions. Besides this, it also has modern telecommunication infrastructure. There three modern harbours and 16 minor ports; of these, two namely Chennai and Tuticorin Ports are currently equipped with container handling facilities. Gross State Domestic Product: The structural composition of the state economy has remained more or less the same over the past few years. Tamil Nadu has been performing well on the economic front with its Gross State Domestic Product (GSDP) at Rs.228479 crores at current prices ($48.61 billion) in 2008-09. At constant prices (1999-2000 prices), the GSDP was Rs.203485 crores (US $ 43.3 billion). It has been growing at a compound annual growth rate (CAGR) of 9.26 per cent from 1999-00 onwards. In the last 5 years since 2004 - 05 to 2008 - 09, the state economy grew at an average annual growth rate of 8.71 per cent. Tamil Nadu's per capita income is one of the highest in India and from $421.2 in 2000,it has grown to $718 in 2008-09 which is quite high. The annual income of the households is also a prime determinant of the level of prosperity and if there are good number of households falling under the high income group, it means the state is economically progressing and is on its way to development. A comparison of distribution of households by various income categories in Tamil Nadu vis-à-vis all-India shows that the share of households in higher income categories in Tamil Nadu is more or less same, especially in case of urban households. In the lowest income category of less than $1,667, only 14.3 per cent of Tamil Nadu’s urban households are present, as compared to 12.1 per cent of all India urban households.
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