Kerala Courts Global Investors with Diplomatic Push Ahead of 2025 Summit

Dec 06, 2024

State positions itself as India's new technology and sustainable business hub

Invest Kerala Global Summit is scheduled for 21-22 February 2025.

 

NEW DELHI. 06 DECEMBER 2024: Kerala has launched a diplomatic offensive to attract international investment, leveraging its top ranking in ease of doing business reforms to position itself as the country's emerging technology and sustainable business destination.

 

At a high-profile gathering in the city, Kerala Chief Minister Mr Pinarayi Vijayan told foreign envoys that the state had evolved into India's only jurisdiction where internet access is enshrined as a citizens' right, boasting 100 per cent digital literacy. "Kerala's commitment towards responsible and sustainable development creates an environment where business can flourish and communities can prosper," Mr Vijayan said.

 

The diplomatic outreach, organised in partnership with FICCI, precedes the Invest Kerala Global Summit scheduled for February 21-22, 2025, in Kochi. The summit will spotlight 22 priority sectors identified in the state's new industrial policy.

 

The Chief Minister invited investors and innovators at the diplomat meet to participate in the global summit.

 

Mr Amitabh Kant, India's G20 Sherpa and former NITI Aayog chief executive, highlighted Kerala's distinctive position in combining growth potential with human development metrics. "The best of Kerala is still to come. No other Indian state offers this unique convergence of growth, development, and skilled manpower," Mr Kant told the gathering.

 

The state has established dedicated technology, space, and defence parks while implementing a single-window clearance system for new ventures. P Rajeeve, Minister, Department of Law, Industries and Coir, emphasised Kerala's emergence as a hub for artificial intelligence, defence, and aerospace technologies, noting increased interest from foreign companies in these sectors.

 

Kerala's industrial transformation strategy includes "Mission 1000", an ambitious programme targeting the elevation of 1,000 enterprises to ₹100 crore businesses within three years. According to Mr APM Mohammed Hanish, Principal Secretary, Department of Industries and Commerce, the state has crafted incentive packages focusing on employment generation and sustainability.

 

Chief Secretary Ms Sarada Muraleedharan emphasised Kerala's robust ecosystem for ethical business practices and medium-sized enterprises. The state's economy shows particular strength in its service sector, with Mr C Balagopal, Chairman, Kerala State Industrial Development Corporation, noting its success in generating non-agricultural employment while modernising its farming sector.

 

Kerala stands out as a uniquely positioned Indian state that combines technological advancement with sustainable development priorities. The state boasts a dynamic economy anchored by an innovative ecosystem of technology, space, and defence parks, complemented by world-class healthcare equipment manufacturing capabilities. Its industrial landscape is particularly noteworthy for strong MSME foundations and ethical business practices, with significant potential in the artificial intelligence, defence, and aerospace sectors. Beyond its business credentials, Kerala maintains impressive human development indicators, including high learning outcomes and nutritional standards. Its skilled workforce – known for excellence both within India and internationally – provides a compelling advantage for investors. 

 

Mr Chethan Kumar Meena, Addl. Resident Commissioner, Government of Kerala, also spoke on occasion.