The 3.3 crore population of Kerala may be small compared to other Indian states and the state’s rate of industrialisation is something it has never been proud of. But some of the fastest growing urban centres matching global standards of economic growth are in the state, if one goes by consulting firm McKinsey's latest report.
In its latest report, McKinsey has identified five cities from Kerala to become part of 600 booming global cities by 2025. The cities are identified on the basis of their potential economic growth or Gross Domestic Product (GDP). Apart from Kochi, Kozhikode and Thrissur, the surprise finds are Kollam in the south and Thalassery in the north.
Of the 136 new cities joining the 600 Club, 100 are from China and 36 from India. Among the states, Kerala and Maharashtra contribute the maximum number to the club - five each, followed by Andhra Pradesh - three.
According to McKinsey, these 600 cities will account for nearly 65 per cent of global GDP growth. “With new hot spots emerging and household wealth surging in little-known urban centers, companies may have to adopt a much finer-grained approach to tap into the growth that lies ahead,” the report said.
According to former president of CII Kerala chapter, Navaz Meeran, Kollam and Thalassery must have found a place in the list, probably due to the large number of emigrants from these places. “Thalassery has some remarkable entrepreneurs who have set businesses in various parts of the globe. Kollam also has large emigrant population,” he said.
According to Navaz, people from small towns and villages migrate to nearest vibrant city and this could be the reason for the fast growth of these cities.