Kerala's Investment Promotion Board meets; aims to make state manufacturing hub

Kerala Government-constituted Special Investment Promotion Task Force has decided to focus on a time-bound action plan to position the state as a major investment destination. This will focus on increasing foreign investment from those who wish to relocate manufacturing following the outbreak of coronavirus.

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Kerala investment promotion task force meets 

The first meeting of the task force took place on Thursday with Dr. Vishwas Mehta as the Chairman and Vice-Chairman Dr. K Ellangovan and Principal Secretary, Industries and Commerce to draw an action plan to create a promising and enduring investment climate in the state.

All 23 members of the task force attended the meeting on Thursday. 

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The state is looking for investment in certain specific sectors such as Life Sciences & Healthcare, Agro & Food Processing, Urban Infrastructure, Pharmaceuticals and Manufacturing. Chief Minister Pinarayi Vijayan constituted the task force to increase investment in the state with a focus on the aforementioned sectors. 

Rajesh Kumar Singh, Additional Chief Secretary, Finance, T K Jose, Additional Chief Secretary, Water Resources, K R Jyothilal, Principal Secretary, Transport, Sanjay Kaul, Secretary, Ports and Rani George, Secretary, Tourism were some of the members of the task force who attended the meeting.

The motto of the task force is to position the state as a Global Investment friendly destination and build an Investor friendly ecosystem that would follow a 'Collaborative' and 'Investor first' approach to make 'Investing in Kerala Simpler, Faster and Friendlier.'

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Members of the task force wanted simplification of land acquisition process, building a comprehensive Industry-Academia Collaboration, job creation initiatives, increasing self-sufficiency by transforming Kerala from a consumer economy to a manufacturing economy, improving health and social infrastructure by promoting Make in Kerala initiative. Members of the task force also worked towards single-window mechanism, encouraging wage subsidies, and promoting sectors such as  Defence, MSMEs, Life Science, Manufacturing, Healthcare, etc. 

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The state also recently launched the 'Dream Kerala Project' to tap the potential and experience of those returning from abroad and other states after losing their jobs due to the COVID-19 pandemic. CM Vijayan took the decision at a Cabinet meeting earlier this week. CM Vijayan told reporters that the expatriate Malayalees are the key contributors to the state's economic growth.

(With ANI inputs)