Chennai also has a large and growing services sector, accounting for over 40 percent of the total organized sector employment .
Economic development and foreign investment has helped five major Indian cities -- Chennai, New Delhi, Mumbai , Bangalore and Kolkata -- move up on their global rankings in terms of living standards, a latest study shows.
The Corporation of Chennai (previously Madras) is the Oldest Municipal Institution in India established on the 29th September 1688. A charter was issued on the 30 December 1607 by East Indian Company constituting the "Town of Fort St. George" and all the territories thereunto belonging, not exceeding the distance of ten miles from the Fort, into a Corporation.
Sir Josiah Child, one of the directors of the East India Company was responsible for the formation of the Corporation of Chennai, on the model of Dutch Government in the East Indies. On 29th September 1688, the corporation was inaugurated with power to decide petty cases, levy rates upon the inhabitants for building of schools , a town hall and a jail . Nathaniel Higginson was nominated as First mayor with 12 aldermen and 60 burgesses .
Over the years, the City has developed in trade , commerce and industry . Chennai City is the biggest industrial and commercial centre of South India. There are about 15,000 industries and factories licensed in the Chennai City.
Partisan of both “Madras” and “Chennai” used those names to assert that the city was, from its inception, a volatile borderland , a point of contact, mixing, hybridity . For its part “Chennai” suggests the frontier of pre-modern empire , whereas “Madras” is a frontier of modern imperial expansion. Both names, however, assert that the city is a “glocality” – a global entrepot in which diverse population , exchange media , languages , and ideas were brought into intimate and enduring relationships, and, more recently, a product of and staging ground for globalizing capitalism .
After Mumbai , Chennai is India’s second most populous destination for investment. During the 1990s, domestic, foreign, and multinational corporations...opened production sites and offices in or outside Chennai.
Globalised Chennai is no longer the hamlet-tish Madras of slow days and early nights, quiet avenues and conservative lifestyles . And yet, beneath the gloss lies the old sheen of kapi-tipan [Coffee and Snacks] and Carnatic music.
”Chennai” or variants also appear in descriptive essays and literary works as names for the city that the English know as Madras. The Vishvagunadrasa Campu (composed between 1650 and 1700) and Anandarangavijaya Campu , composed in 1752 refer to the settlement as Chenna Kesava Pura and to “Chenna Patna”, and the Sarva-deva-vilasa uses the term “Cennapuri” or “Cennapuram” as the place name