Erode is also known as "Turmeric City" or "Yellow City" on account of production of turmeric in the state and has one of the largest markets for coconut. There are a lot of dall mills, cotton textiles, vanaspathy manufacturing, wax and screen printing power loom, sizing, warping and printing press located in the city. It is also one of the largest coconut oil producers in south India

Erode stands second in leather processing in the state, next only to Ambur. Paper industry also thrives around the city with some of the largest paper companies like TNPL and Seshasayee paper boards located near river Kaveri. Sugarcane processing industries extract juice from the cane to make sugar and the remains are used for paper manufacturing.

Erode city is built around a demolished fort, which includes a temple for Arudra Kabaleeswar (Shiva) praising the Saiva concept and another for Kasthuri Ranganatha Perumal (Vishnu) praising the Vaishnava concept of Hinduism. Thindal Murugan Temple, situated 6 km (3.7 mi) from the city is the most prominent temple in the city. Periya Mariamman Temple, Natadreeswarar Temple, the hillock temple is situated in the centre of the Kaveri river between Kudagu (origin) and Poompuhar, Sangameswarar Temple.

CSI Brough Church, Thowheeth mosque, Ravlathul Janna mosque, Bazaar Mosque and Jamia Pallivasal are some of the prominent religious destinations in the city. E.V.R Corporation Museum and Thanthai Periyar Memorial House, a Sociological Museum, which depicts the life history of Periyar E. V. Ramasamy are the prominent museums in the city. Jain Temples at Erode, Vijayapuri and Aval Poondurai, Sankagiri Fort and Vellode Birds Sanctuary are other visitor attractions around the city.