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Economy of Kochi


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Kochi is widely referred to as the commercial capital of Kerala. Kochi is home to Cochin Stock Exchange, the only stock exchange in Kerala. Availability of electricity, fresh water, long coastline, backwaters, good banking facilities, presence of a major port, container trans-shipment terminal, harbor terminal and an international air terminal are some of the factors which accelerated the industrial growth in the city and its adjoining district. In recent years the city has witnessed heavy investment, thus making it one of the fastest-growing second-tier metro cities in India. Sales tax income generated in the Kochi metropolitan area contributes heavily to state revenue. The district contributes the highest portion, 14.47%, of the state's GDP. Construction and manufacturing combined contributes 37%, and trade, tourism and hospitality together provides another 20%. Major business sectors include construction, manufacturing, shipbuilding, transportation/shipping, seafood and spices exports, chemical industries, information technology (IT), tourism, health services, and banking. Kochi is recognized as one of the seventeen major industrial cities of India by World Bank, Doing Business Group. However, in the 2009 rankings of ease to start and operate a business, among the 17 Indian cities selected, Kochi was rated as the second most difficult city to start business and was ranked 16th, above Kolkata.

As in most of Kerala, remittances from non-resident Indians (NRI)s is a major source of income. Eloor, situated 17 kilometres (10.5 mi) north of the city-centre, is the largest industrial belt in Kerala, with more than 250 industries manufacturing a range of products including chemical and petrochemical products, pesticides, rare earth elements, rubber processing chemicals, fertilisers, zinc and chromium compounds, and leather products. Fertilisers and Chemicals Travancore Limited (FACT), one of the oldest fertilizers and chemical industry in Kerala is located in
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