Kochi, Feb 21 (IANS) Chief Minister Pinarayi Vijayan on Friday while addressing global investors and dignitaries at a two-day Invest Kerala Global Summit (IKGS) -2025, said the state’s investment scenario was on the cusp of history as all are witnessing progress and change for the better in the investment arena.
“The changes we have brought about now are not incremental but substantial. Kerala, the state which has become a noteworthy example of achieving a high score in Human Development Indicators, is now taking a leap towards achieving the status of an investment hub. The government here considers that it has a great role to play as a facilitator and a catalyst. We have taken a holistic view and are paying equal attention to all matters from policy formulation to the last mile implementation,” said CM Vijayan.
“We have ensured that no investor coming to Kerala will have to face the cobweb of procedural delays and meet the barriers of red tape. We have made major strides in simplifying procedures as regards investments,” the CM Vijayan said.
“Apart from untying the Gordian’s knot of complex laws and procedures, the Government of Kerala has shown the will to undertake the task of bridging the infrastructural deficit, as it realises that high-quality infrastructure is the necessary condition for investments to come to the state,” said CM Vijayan.
IKGS 2025 is organised by the Kerala State Industrial Development Corporation (KSIDC) on behalf of the Department of Industries & Commerce where around 3,000 investors, entrepreneurs and bureaucrats will be present in the two-day event attended by business delegations from six different countries.
Elaborating further CM Vijayan said Kerala has made major strides in the startup sector. “In the last eight years, Kerala has witnessed the establishment of 6,200 startups with an investment of Rs 5,800 crore creating 62,000 employment opportunities. We aim to establish 15,000 startups and create one lakh employment opportunities by 2026.”
CM Vijayan added that another new sector in which we have shown interest and taken initiatives is Aerospace and the government has taken steps to facilitate investments in this area.
“In this context, I would also like to mention that we are facilitating graphene-based advanced technological material research under the leadership of Digital University. Graphene is a material with tremendous potential, for use in electronics, and energy. Kerala has taken steps to achieve a clean energy economy. We have set up a Hydrogen Valley project in Kochi, and I am happy to mention here that this has been recognised by the World Economic Forum, Davos as one of the 13 leading global industrial clusters.”
He also pointed out that on the physical infrastructure front, Vizhinjam Port development is proceeding fast and the project will be completed in 2028 ahead of schedule.
“The port is making Kerala a hub of transhipment of goods. There is tremendous scope for ancillary development.”
“The share of the manufacturing sector in Gross State Value Added, which was 9.8 per cent in 2014-15 has risen to 11.5 per cent in 2023-24.”
CM Vijayan concluded his address by saying that to make Kerala an investment destination, the Government of Kerala shall strain every nerve and leave no stone unturned.
“We have an end-to-end approach with a holistic perspective to implement our plan not incrementally but substantially,” said CM Vijayan.
–IANS
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