It is a trading center of natural rubber and majority of people are engaged in rubber cultivation.
Panchayath
Marangattupilly Gramapanchayath in Meenachil Thaluk consists of Kurichithanam, Elackad (Part), Monipally(Part) revenue villages, with a Population of 21219 and area of 37.58 square kilometres (14.51 sq mi) divided into 14 wards. Established on 1953, this was initially called Elakkad Panchayath.
Labour India
The head office of Labour India Publications, with an educational research and development center and publishing company, and its Gurukulam public school are operating from this small village. The managing director of Labour India Santhosh George Kulangara, is the first Indian space tourist and the host of Sancharam also belongs to this village.