As of 2012[update], the city is India's second-largest exporter of information technology (IT) and business process outsourcing (BPO) services.[249][250] A major part of India's automobile industry is located in and around the city thus earning it the nickname "Detroit of India".[251][252][253][254] It is known as the Cultural Capital of South India[255] and is the third-most visited city in India by international tourists according to Euromonitor.[9] The city also serves as the location of the Madras Stock Exchange, India's fourth stock exchange, one of four permanently recognised by SEBI, and India's third-largest by trading volume, ranked behind the Bombay Stock Exchange and the National Stock Exchange of India.[256]