The economy of Palladam and its surroundings is mainly based on
textile industry,
agriculture and
poultry farming.
Textile industry In and around Palladam there are many
weaving and
knitting centres mostly meant for export to foreign countries, thus earning a considerable
foreign exchange. Most of the major textile houses are set up as vertically integrated units enabling them to produce clothing at a better quality and competitive price. This sector along with the poultry sector provides direct and indirect employment to numerous people in the region. The region also attracts
labourers from other part of the nation, for weaving more than 4,50,000 power looms are working around palladam. Nowadays many Hi-Tech weaving machines like
Sulzer and
Airjet looms are installed.
Textile mills There are many Textile mills are located in and around Palladam. They provide the essential raw materials for the Textile industry in and around Palladam as well as Exports to various other countries.
Palladam HiTech Weaving Park (PHWP) The
Palladam Hi-Tech Weaving Park (India's First and Largest Hi tech Textile weaving Park) was commissioned in 2007 and is one of the nations advanced weaving parks. It is a cluster of the textile industry and contains a variety of textile factories. This park serves as a model for the different other textile parks that been planned by the Govt. of INDIA (GoI). Spreads over 65 acres, the Palladam Hi-Tech Weaving Park (PHWP) is the first of the integrated textile park models. The PHWP functions on the model of a Public-Private partnership, managed by user entrepreneurs. The PHWP acts as a sourcing hub for the global industrial fabrics, home furnishing, and garments market. Leading strategic and project management support to the integrated textile parks, is IL&FS CDI, a leading multidisciplinary conglomerate with interests in infrastructure, finance, capacity building initiatives, technology and marketing.
Poultry industry Major Indian Poultry firms are from this region, some of the well known poultry farms are Suguna Poultry Farms, Pioneer Poultry Group, Shanthi Poultry Group, Swathi Poultry Farms (Hatcheries), which are in the
Indian Poultry industry. The chickens raised here are transported to nearby states and these companies have also set up similar contract farming in other parts of the nation. Palladam Broiler Rate is the benchmark in the Indian Poultry industry. The Broiler rates are fixed by the BCC called as
Broiler Coordination Committee. It is a very powerful organization in the Indian Poultry Industry. Its members are one of the leading poultry integrators in INDIA.
Agriculture Agriculture has a great history in Palladam right from the introduction of modern farming in the early 1980s to the plantation of variety of medicinal and other trial based plantation till date. The people here are involved mainly in Agriculture like
Cotton and
Tobacco. The people of Palladam have always relied upon Agriculture like many other towns in INDIA. The association with Agriculture hasn't largely diminished over the years due to the continuous involvement of community & the participation from the younger generation. The primary vegetation was cotton in the early 1970s and 1980s at the time of the textile boom. Later the town adopted the
Maize crop with the boom in the Poultry industry thus aiding the industries with local supplies to compete with both quality and pricing. Other vegetation are largely based on the local demands like common vegetables consumed by the house holds like the
Onions (both small & big),
Tomatoes,
Brinjal,
Okra,
Peas, etc. Large amount of
Cattle &
Poultry in the region also leads to vegetation consumed by them. Currently this industry is not doing well due to insufficient and un-timely rains along with the decrease in the ground water levels by significant amount in the recent years.
Wind turbines The surrounding areas has seen a surge in
wind turbine installations because of the location of the town across the Palghat Gap. The wind turbines installed here ranges from as low as 200 kW to 2000 kW. The power generated by these wind turbines largely accounts for the State's Electricity Supply & INDIA's highest installed wind capacity is in and around this town. Thus it is also known as the green city for its renewable expertise. This industry also accounts for both direct and indirect employment to the communities nearby. ==Politics==