Boom Time Entices Elobal Giants to Kochi
Mini Joseph Tejaswi, TNN Mar 9, 2012, 01.28AM IST
BANGALORE: Business hopes smile at Kochi on the threshold of a new fiscal. The emerging possibilities reflect on its changing commercial skyline that would soon flaunt global titles like Deloitte, KPMG and Ernst & Young (E&Y).
Kochi has been witnessing unprecedented economic growth. In 2010-11, the state domestic product grew 8.3%. And analysts believe it will sustain these rates in the next three to five years.
A number of areas are growing rapidly - construction, manufacturing, shipbuilding, transportation, shipping, seafood, spices, tourism, real estate, healthcare, information technology and financial services. KPMG is one of the first players to open shop in Kochi to ride this wave. Its senior partner Girish K R told TOI that "it was the right moment to establish presence in Kochi".
Trade is expected to boom in Kochi with the completion of Vallarpadam Transnshipment Container Terminal and other projects. IT and BPO companies like Infosys, Wipro, TCS, UST Global etc are rapidly expanding, Girish said.
V J Kurien, MD, Cochin International Airport, said, "Kochi expects a high-pace, unmatchable growth in the coming years. A lot of infrastructure systems are going to be put in place and that will change the face of the city".
Jose Dominic, chairman of CII's Kerala chapter, said, "City today reflects the pulse of the industry and spirit of entrepreneurship. It is inching to become a cosmopolitan city".
Cochin Port Trust MD Paul Antony's bet is on the container terminal "which will change the trade dynamics of Kochi". The Port Trust is setting up a free trade warehousing zone on Willingdon Island to support third party logistics operators. A general cargo berth of 4 million tonnes is being readied. A ship repair yard is coming up on a 45-acre land on Willingdon Island. Hyatt is setting up a luxury hotel on 26 acres of land on Bolghatty Island. Also coming up is a state-of-the art convention centre and a luxury hotel on a 56-acre land on Willingdon Island.