The two-day Invest Kerala Global Summit concluded here on Saturday with the State government securing Expression of Interests for ₹1,52,905 crore in investments from 374 companies, including 25 Information Technology companies, who will invest ₹8,500 crore in new establishments and expansion, generating 60,000 jobs.
Industries Minister P. Rajeeve, who announced the quantum of potential investments, said that the figures were realistic and that Invest Kerala Global Summit marked a major landmark in a journey to turn Kerala into an investor-friendly destination.
He said that each EoI would get individual attention from the State government, which would set up committees to monitor the progress of every investment proposal. He said a dashboard-based follow-up would be in place and a dedicated toll-free phone number and email for enquiries on the investment proposals would be up in a week.
Along with these set-ups, there will be nodal officers to follow up each proposal, and the process will be monitored at the Chief Secretary-level through periodic reviews. The process of monitoring the proposals will begin on Sunday but the finalisation of the investments will take longer since further discussions with the partnering investors are necessary.
Mr. Rajeeve said that the State government would explore several fronts to increase the investment. These include the setting up of a high-level committee to follow up on the recommendations on using plantation land.
“It is the beginning of a new journey towards Kerala becoming a great investment destination,” the Minister said. He claimed that the best result of the two-day summit was the unprecedented unity within the State backed by the ruling and Opposing parties, investors, and home-grown entrepreneurs.
Work-from-Kerala concept
The State has proposed to delegations from countries like Norway to opt for work from Kerala, a concept that received great response, the Minister claimed. He said that Kerala offered an opportunity for employees in countries like Norway since the climate conditions there changed drastically between summer and winter months.
During the two-day summit, the Minister said, Chief Minister Pinarayi Vijayan met business delegations, 50 business people in person, GCC representatives and addressed the community of diplomats. Mr. Rajeeve said he met 1,000 business people during the summit.
5,000 delegates
There were around 5,000 delegates in the investment summit, which had 30 sessions, several rounds of discussions, diplomatic representatives from 26 countries and 48 preparatory meetings. Several areas such as robotics, regenerative AI, IT industry prospects, and tourism growth were covered at the summit.
The Minister said that Kerala was small in terms of geographical extent, but big in terms of growth and investment potential. The rural-urban continuum in the State was its special feature, which could be exploited to the advantage of the State.
Union Minister of State for Fisheries, Animal Husbandry and Dairying and Minority Affairs George Kurian, former State Industries Minister P.K. Kunhalikutty, and Kerala Finance Minister K.N. Balagopal were among those who addressed the valedictory session of the two-day summit.
Published - February 22, 2025 07:22 pm IST
