Overcoming economic crisis: Kerala's plan to generate jobs and revenue

The Invest Kerala Summit held in Kochi received investment pledges worth nearly Rs 1.5 lakh crore. Even if half of the promised projects are realised, it will be a big investment success for Kerala. Chief Minister Pinarayi Vijayan assured that investors coming to Kerala will not have to worry about red tape while inaugurating the investor meet. If the government systems are able to fulfil this promise made by the Chief Minister 100 percent, the investors themselves might eventually become something like brand ambassadors of Kerala. The feedback given by other investors who are currently running their enterprises in the state is whom the due diligence investors will trust the most.

The arrival of the Adani Group for the construction of the Vizhinjam port, along with the government's support for the project, has significantly exacerbated the anti-development sentiment associated with Kerala. The Adani Group alone signed a memorandum of understanding worth Rs 30,000 crore. This large industrial group has prepared for this based on its experience that Kerala is industry-friendly. The Adani Group made the largest investment offer at the investors' meet in Kochi. 374 companies are ready to invest in Kerala. If even half of these companies, regardless of their size, initiate projects, it will generate thousands of jobs and contribute crores to Kerala's treasury through taxes and indirect revenue. This would allow the state to resolve the economic crisis without having to rely on the Centre's assistance.

Industries Minister P. Rajeev stated that the investors' meet has significantly boosted Kerala's industrial development, with over sixty percent of the expressed investments having the potential to be realised. Additionally, the participation of opposition parties in the investors' meet has greatly motivated and increased the confidence of industrialists, particularly non-resident Keralite industrialists.

The government should now focus on completing the procedures for granting approval to the signed projects as soon as possible. The heads of officials should hold further discussions with the industrialists and set a time frame for completing the projects.

Review meetings should be held regularly, progress should be accurately assessed, and shortcomings should be addressed immediately. Union Commerce Minister Piyush Goyal's announcement that Kerala's development initiatives will receive full support from the Centre sent a message that the state and central governments will move together in development matters. In any case, it can be said without a doubt that the investor summit was able to create great confidence among investors. This is also the excellence of the organisers. Everyone who worked day and night behind this deserves appreciation.