In the special series of the MBA destinations in India, today we will visit down South, in Chennai which is known as the Gateway to South India owing to the ports in Chennai. With the presence of industries in all the sectors, Chennai is growing as a destination for the career oriented MBA aspirants.

Chennai's economy is dominated with automobile, computer, technology, hardware manufacturing and healthcare industries. According to Forbes magazine, Chennai is one of the fastest growing cities in the world. The diverse economic base is driven by the automobile, software services, hardware manufacturing, health care and financial services industries. According to the CII, Chennai is estimated to grow to a USD 100-billion economy, 2.5 times its present size, by the year 2025.

B-schools in Chennai

Chennai can boast of having some quality B-schools which have grown over the years. It is a strong centre of academics and high academic and research credentials. Some of the renowned B-schools in Chennai are as follows:

Great Lakes Institute of Management - The institute was founded by Dr Bala V Balachandran in the year 2004. Great Lakes Institute of Management has an MoU with Stuart School of Business at the Illinois Institute of Technology, Chicago, USA. The Yale-Great Lakes Research Center has been established with the objective of pursuing advanced research in management in partnership with Yale University of USA. The Institute has entered into a MoU with the Nanyang Technological University of Singapore, Universiti Tun Abdul Razak, Malaysia, Bauer College of Business at the University of Houston, and IIT Madras for academic exchange programs. Great Lakes has recently earned the accreditation by AICTE and is the only 1 yr management course in India to be approved by the council.

Loyola Institute of Business Administration – LIBA, established in 1979, is a premier management institute known for its academic excellence and value-based education. It provides management education to both fresh graduates seeking world-class management education and also to those who are already employed and want to enhance their managerial skills. The Post Graduate Diploma in Management (full-time) is being offered since 1995. Both the part-time and the full-time PGDM programmes are approved by the AICTE and the full-time programme is recognized by the AIU as equivalent to the MBA degree of Indian Universities. LIBA also has collaborations with several Universities overseas and seeks to imbibe a global mindset in its students.

Institute For Financial Management and Research - Established in 1970 as a non-profit organization, IFMR was sponsored by ICICI, the House of Kotharis and other major industrial groups. The Board of Governors includes leaders of major corporations in India. The Finance Secretary, Government of Tamil Nadu, and the Vice Chancellor of the University of Madras are ex officio board members.

Department of Management Studies, IIT Madras –The Department of Management Studies, IIT Madras, also known as DoMS, IIT Madras is a business school under the Indian Institute of Technology Madras in Chennai, India. The MBA programme is a two-year programme, structured with courses spread over eight quarters and about five to six courses per quarter. The first year contains core courses that are compulsory for all students, whereas the second year mostly has electives and a few core courses.

SRM School of Management, Chennai - SRM is a deemed university attained the status of a full-fledged university, under section 3 of the UGC Act 1956. An upgraded syllabus and international teaching methods, designed by SRM`s International Advisory Board (IAB).

Chennai Business School - Chennai Business School (CBS) started in 2006 was established and run by professionals from the industry. The programs offered by the B-School are supported by contemporary infrastructure, industry-orientation, latest teaching methodologies and high-profile faculty, both from academia and industry.

Thiagajar School of Management - Thiagarajar School of Management (TSM) was started in the year 1962 by the great philanthropist and industrialist, Shri. Karumuthu Thiagaraja Chettiar. A full time MBA course was started later in 1986. TSM is affiliated to Madurai Kamaraj University and is approved by the All India Council for Technical Education (AICTE). Both MBA and MCA programmes have been accredited by NBA, AICTE for a period of three years with effect from January 22, 2008. TSM is also recognized under section2 (f) by UGC.

VIT Business School - VIT Business School, VIT University is one of the top B-schools in Chennai. Established in September 1994 as the Department of Management Sciences under the University of Madras, VIT Business School (VITBS) has expanded along multiple fronts.

Industries based in Chennai

The city is base to around 30 per cent of India's automobile industry and 40% of its auto components industry. A large number of automotive companies including Hyundai, Ford, BMW and Mitsubishi have or are in the process of setting up manufacturing plants in and around Chennai. Many software and software services companies have development centers in Chennai.

Let us have a look at the major industries based in Chennai.

Automobile - Hyundai, Ford, BMW and Mitsubishi

IT – Infosys, TCS, Wipro. Tidel Park in Chennai is the largest IT Park in Asia.

Banking & Finance – World Bank, Standard Chartered Bank, Citibank

Telecom & Electronics – Nokia, Siemens, Motorola, Dell, Ericson and Alcatel-Lucent

Health care - Medical tourism is another important part of Chennai's economy with health care providers like Apollo Hospitals and Fortis Healthcare based in the city.

Media – The Hindu, The New Indian Express, The Deccan Chronicle, The Times of India, Sun TV, Raj TV, Jaya TV

Chennai is a major centre for music, art and culture in India. The city is known for its classical dance shows and Hindu temples.