It is the second largest producer/supplier of edible oil after Mumbai. There are as many as 60+ oil industries in Challakere. Not only oil, several other industries like dal, fried gram, rice, etc. are also present. The commercial activity in the town is comparable to that of a standard district and the district enjoys a huge business turnover out of town's business.
Spiritual places
Datta Mandira - located in Tyagaraja Nagar, and traditional practices of Datta Sampradaya, can be seen at this temple.
Jagalurajja temple (Ajjana Gudi) - located beside the Ajjana Kere, which is the main water source for surrounding wells and drinking water for challakere.
Challekeramma temple - Challakeramma Jathre is conducted once every five years.
Bhavani Shankara temple - situated at Lakshmipura, was bought from Varanasi more than 200 years back without being kept on the floor to maintain the sanctity of the idol.[citation needed]