Come, Inevest in Kerala

P. Rajeeve
Minister for Industries and Commerce

 

The Invest Kerala Global Summit organised by the state government was the most grand event in the history of Kerala. A packed audience. 5000 delegates. Speeches that accurately marked the achievements of Kerala. At the summit, Kerala was presented as a brand in front of the world. We received expressions of interest worth Rs. 1,52,905 crore from 374 companies. When the investments received after the summit are added, the figures have reached over Rs. 1.75 lakh crore. This investment summit was also a platform where Union Ministers and representatives of Opposition acknowledged Kerala’s progress, regardless of political affiliations. The great appreciation that we received for the Invest Kerala Global Summit is the result of 8 months of diligent preparation. Kerala is on the path of becoming a destination for Industrial Revolution 4.0, proving that nothing is impossible. Kerala has been ranked first in Ease of Doing Business Reforms. In the 87-year history of the American Society for Public Administration, only one project from India has been recognised for Novel Innovation in Public Administration. It is Kerala’s Year of Enterprise project. The same project was also recognised as the best project in the MSME sector in India in a meeting attended by the Prime Minister.

A Continuous Process

We are building up on the decisions and steps taken by the first Pinarayi Vijayan government to create a business-friendly environment in a meaningful and far-sighted manner. From the launch of K-SWIFT, which eliminated the need to visit multiple offices to start businesses and created a single-window system, to changes in laws and regulations, that government helped lay a strong foundation for a business-friendly environment. As a culmination of these initiatives, this government achieved the honour of being the most investment-friendly state. Kerala received praise in international forums, including the World Economic Forum at Davos. Some of the world’s best companies dealing with innovative technology have started operations here. And those who have come to Kerala have acknowledged our business-friendly environment and started more offices.

Systematic Follow Up

The Invest Kerala Global Summit was a huge success and the government has decided to hold the summit every three years. The government is rapidly moving forward with the follow-up activities of the Invest Kerala Global Summit. As part of this, the Chief Minister interacted with various organisations that collaborated with the summit, representatives of organisations related to sectoral meetings, conclaves, roadshows, etc., and KSIDC board members. We are making every effort to enable the steady progress of Kerala by including everyone. The government is now trying to convert all the expressions of interest received at the Invest Kerala Global Summit into investments very soon. A team led by the Directorate of Industries scrutinises projects related to industries worth less than Rs 50 crore. The Executive Director of the KSIDC acts as the nodal officer for those worth more than Rs 50 crore. These have been divided into seven sectors. Seven groups will be formed to implement the project under the managers in these seven sectors. Twelve experts will be appointed in different sectors so that all the seven groups can use them. There will be a separate dashboard for this. The government’s work will be transparent by making all possible information available to the public. Invest Kerala Global Summit has been approved by the Cabinet. Therefore, there will be a Secretary-level committee at the Chief Secretary level to expedite the clearances and permits related to the project. A special app has been made available on the Play Store specifically for summit-related matters. Taking into account the summit’s recommendations, if anyone has land that can be provided for industrial purposes, information about such land shall be made available on the app. Industrialists in need of land can contact them directly through the app. The app will also provide information on KINFRA, KSIDC, government estates, and government-approved private industrial parks. Currently, 31 private industrial estates have been approved. Soon, this number will increase to 50. 10 campus industrial parks have also been approved.

Structural Transformation

Kerala, which topped the Ease of Doing Business ranking, has opened its doors to the world with the best talent pool, the best climate and the best connectivity facilities. Investment promises worth Rs 1.75 lakh crore have now been lined up. The state government is planning and moving forward with time-bound programmes to convert these promises into investments. Since the second Pinarayi government came to power, the endeavour to transform Kerala into a knowledge-based economy has been progressing at an impressive pace. Even during the first Pinarayi government, work was done to make the primary education sector hi-tech. To create a knowledge economy, it is necessary to create a leap in higher education facilities in the state, promote innovative educational initiatives and startups on a large scale, and ensure access to digital facilities to maximum people. All efforts are underway for this. Innovative projects like the Campus Industrial Park project will pave the way for fostering entrepreneurship among students and strengthening industryacademic ties. And our ability to attract innovative industries to Kerala that are in line with the modern era will lead to progress in this field.

Wooing Investors

IBM, which started with a goal of employing 100 people, has employed over 2,000 people in two years. UST Global is setting up its new campus in Kerala, and once it is completed, 20% of the company’s global workforce will be in Kerala. Tata Elxsi already has 60% of its employees in Kerala. Around fifty big companies that contribute to the knowledge economy, such as TCS, dSpace, Safran, Systrome have either started operations in Kerala or have made investment promises. IBM Senior Vice President Dinesh Nirmal stated that reverse migration is happening to Kerala. This means that we are now able to attract more knowledge-based industries that can provide jobs to our youth. The Invest Kerala Global Summit was also an important step towards this. Kerala, with one of the best startups ecosystems in Asia, has received investment promises worth Rs 1.75 lakh crore, drawing on our unique talent pool. It is everyone’s responsibility to provide the necessary support to make the investments a reality as quickly as possible. By converting maximum investment promises into investments, everyone can be a part of the government’s efforts to make Kerala investors’ own country. Let’s create a new Kerala.