Kochi “Queen of the Arabian Sea"
Kochi was the seat of the Kingdom of Cochin, a princely state which traces its lineage to the Kulasekhara empire. Heralded as the Queen of the Arabian Sea, Kochi was an important spice trading centre on the Arabian Sea coast from the 14th century onwards. Ancient travelers and tradesmen referred to Kochi in their writings. Occupied by the Portuguese in 1503, Kochi was the site of the first European colonial settlement in India. It remained the capital of Portuguese India until 1530, when Goa became the capital.
Fort Kochi in Kochi was the first European colonial settlement in India. From 1503 to 1663, Fort Kochi was ruled by Portugal. This Portuguese period was difficult for the Jews installed in the region, since the Inquisition was active in Portuguese India. Kochi hosted the grave of Vasco da Gama, the first European explorer to set sail for India, who was buried at St. Francis Church until his remains were returned to Portugal in 1539.
Kochi is the economic capital of Kerala. In recent years the city has rejuvenated from its economic stagnation and has witnessed heavy investment, thus making it one of the fastest growing second tier metro cities in India. The economy of the city can be classified as a business economy with emphasis on the service sector. Major business sectors include gold and textile retailing, seafood and spices exports, information technology (IT), tourism, health services, banking, shipbuilding, and the fishing industry. The economy is mostly dependent on trade and retail activities. As in most of Kerala, remittances from non-resident Indians (NRI) s is a major source of income. The city also houses Kerala's only stock exchange, The Kochi Stock Exchange.
Kochi is a major destination for IT and ITES companies, ranked by NASSCOM as the second-most attractive city in India for IT-based services. Availability of cheap bandwidth through undersea cables and lower operational costs compared to other major cities in India has been to its advantage. Various technology and industrial campuses including the government promoted Info Park, Cochin Special Economic Zone and KINFRA Export Promotion Industrial Park operate in the outskirts of the city. Several new industrial campuses for research, trade and development in biotechnology, electronic hardware and information technology are in various stages of construction in the suburbs of the city. Prominent among them are the Sobha Hi-tech city at Maradu and the Smart City at Kakkanad, which on completion, would rank among the largest such ventures in the country.
Kochi is the headquarters of the Southern Naval Command, the primary training centre of the Indian Navy. The Cochin Shipyard in Kochi is the largest shipbuilding facility in India.
Exports and allied activities are also important contributors to the city's economy. The Cochin Port currently handles export and import of container cargo at its terminal at Willington Island. A new international container transshipment terminal the first in the country is being commissioned at Vallarpadam. Kochi's historical reliance on trade continues into modern times, as the city is a major exporter of spices and is home to the International Pepper Exchange, where black pepper is globally traded. The Spices Board of India is also headquartered in Kochi.
Kochi has a state of the art International Airport, one of the best in India. With a 3,400-metre long runway, the airport is equipped to operate any type of aircraft currently in commercial service. It is at present the fourth busiest airport in India in terms of international traffic (2.5 million passengers including domestic and international for 2006-2007). There are 464 services in the domestic sector and 314 services in the international sector in Kochi per week. Kochi is currently one of the few Indian airports besides Mumbai and Delhi, which is capable of handling the Airbus 380. Construction of a new international terminal area with duty free shops has been completed recently.
Kochi also has an oil refinery the Kochi Refineries Limited (KRL) at Ambalamugal. Central Government establishments like the Coconut Development Board, the Coir Board and the Marine Products Export Development Authority (MPEDA) have head offices located in the city.
