Achievement at Davos
The announcement by Minister P. Rajeev that Kerala has signed investment expressions of interest worth Rs 1.18 lakh crore at the World Economic Forum held in Davos is a matter of happiness for everyone who wishes for the industrial growth of the state. The total value of the investment proposals is 14 billion US dollars. The expressions of interest were signed with companies from countries including the United States, the UK, Germany, Spain, Italy, and South Africa. This is the first time in history that Kerala has been able to attract investments directly from the World Economic Forum. Although Kerala had participated earlier, it was only able to present an outline of the state’s potential to the world. This time, however, Kerala succeeded in attracting actual investment interest, which is a major achievement.
The companies that signed expressions of interest include Ramky Infrastructure with Rs 6,000 crore for eco-town development and integrated industrial parks, ReSus Sustainability with Rs 1,000 crore for waste management, and InstaPay Synergies with Rs 100 crore for financial services. Baidyanath Biofuels has proposed Rs 1,000 crore for renewable energy, Acme Group Rs 5,000 crore for battery storage systems, Link Energy Rs 1,000 crore for renewable energy, Sify Technologies Rs 1,000 crore for data centres, Delta Energy Rs 1,600 crore for hospitality and healthcare, Greenco Group Rs 10,000 crore, Genesis Infrastructure Rs 1,300 crore, Canis International Rs 2,500 crore for aerospace and energy, and Zain West Caps Advisory Rs 1,000 crore for renewable energy. In total, expressions of interest were signed with 27 companies.
An official delegation led by Minister P Rajeev, consisting of five members, travelled to Davos and held direct discussions with representatives of 67 companies. The agreements were mainly with companies in the medical industry, renewable energy, data centres, and emerging technology sectors. Officials will be assigned to ensure follow-up action on these proposals.
The state’s Industries Department has played a key role in gradually bringing Kerala forward in the manufacturing sector, where it once lagged behind. The Investors Kerala Global Summit held in Kochi last year was a major success. About 23.16 percent of the investment promises from the summit have already turned into actual investments. The global summit helped present Kerala as an investor-friendly destination to the world, which in turn helped the state achieve success at Davos. Investment proposals will turn into real investments only if they receive proper follow-up and support. Such efforts were carried out after the investors’ meet. One of the biggest achievements has been changing the long-standing perception that Kerala is not suitable for industrial investment. The criticism that protests erupt whenever an industry starts has largely reduced. Trade unions have also played their role in this change.
What Kerala needs is development, not controversies. The state must move towards a future where children can study, grow, and find good job opportunities within Kerala itself. The achievements at Davos can be seen as an important step in that direction. Minister P Rajeev and his team deserve special appreciation for this effort.