Cochin IT Boom

[Snosh]

Cochin experienced decades of economic stagnation from independence until 2003, when it entered a period of economic growth, leading to a spurt in the city's development. A growing centre of information technology, tourism and international trade, Cochin is the commercial hub of Kerala, and one of the fastest growing second-tier metros in India. Like other large cities in the developing world, Cochin continues to struggle with urbanization problems such as traffic congestion and environmental degradation. Successive waves of migration over the course of several millennia have made Cochin a cultural melting pot. Despite the risk of overdevelopment, the city retains its distinct colonial heritage and a blend of tradition and modernity.

The establishment of several IT and port-based infrastructure led to large scale construction activity in and around the city. Cochin witnessed economic stagnation in the years following India's independence. The city's economic recovery gathered momentum after economic reforms in India introduced by the central government in the mid-1990s. Since 2000, the service sector has revitalized the city’s stagnant economy. The establishment of several industrial parks based on Information technology (IT) and other port based infrastructure triggered a construction and realty boom in the city. Over the years, Cochin has witnessed rapid commercialization, and has today grown into the commercial capital of Kerala. As a result new residential apartments, row houses, villas offering world-class facilities, amenities and entertainment options are coming up across Cochin. Apartment in Cochin is in buildings designed for the purpose, but large older houses are sometimes divided into apartments. The word apartment connotes a residential unit or section in a building. Apartment building owners, lessors, or managers often use the more general word units to refer to apartments.

Cochin was the centre of Indian spice trade for many centuries, and was known to the Yavanas (Greeks) as well as Romans, Jews, Arabs, and Chinese since ancient times. Cochin rose to significance as a trading centre after the port at Kodungallur was destroyed by massive flooding of the river Periyar in 1341.