The Builders in Kerala are now eyeing areas adjacent to the prominent business centers in the major cities. In Kochi, almost all the leading builders have got a foothold in the areas adjacent to M.G.Road. On the other hand, Marine Drive, lying a few kilometers away, has been famous for traditional products, even though imported goods are also now finding many takers. The two market places in question, thus, share different heritages in retailing various imported and domestic goods.
It has been noted that the M.G.Road area alone accounts for the wholesale and retail trade in more than 60 percent of the consumer goods belonging to different multinationals. In the area adjacent to the south railway station, the presence of such goods is noted in about 25 to 30 percent of retail outlets. This is rather significant when considering the situation in other parts of the state.
The policy implications of liberalization of trade are the same for both the market places but the presence of multinational products of different kinds and in significant numbers is concentrated more in the Marine Drive area. Also, the business attraction of each of the two places is equal in terms of consumer frequency. Both the market places have responded well to the process of modernization equally strongly. The retail environment with respect to consumer demand for foods and services, infrastructure etc. remains the same since ages. There is no dearth of capital and the traders are willing to invest any amount of money in both the market places. Even then, the two market places have a significant difference with the former, since it is considered more modernized (westernized) than the latter.
The reasons for considering the areas around Marine Drive as traditional are obvious. This area is rather closer to the natural Cochin harbor and has seen trade and commerce unfold since earlier times. The traditional hospitality and the warmth of the people have helped it to grow to greater heights and thus it is now the most preferred choice for businessmen and builders from all over the state.
