Kerala goes big on investments, aims to become global business hub

Kerala is setting ambitious goals, redefining its approach to innovation, industry and economic growth. With the tagline “Let’s Change the Nature of Business,” the state is making a bold statement on its investment-friendly environment. From ranking 23rd in ease of doing business, Kerala secured the top position in 2022, boasting 140 industrial estates and Rs 22,136 crore in new MSME investments since 2022-23. In the same period, 45,099 new MSMEs were registered, with Mission 1000 aiming to scale up another 1,000 enterprises.

The Invest Kerala Global Summit, held at the Lulu Bolgatty International Convention Centre in Kochi, drew industry giants, entrepreneurs, policymakers, ambassadors and investors. With over 3,000 participants and 100 stalls, the message was clear: Kerala means business.

Minister for Industry Piyush Goyal urged investors to take advantage of India’s third-largest startup ecosystem, warning, “If you don’t seize this opportunity, you will miss the Kerala boat.”

Minister for Road Transport Nitin Gadkari, in a virtual address, announced Rs 50,000 crore worth of road infrastructure projects for Kerala. Meanwhile, Minister for Skill Development Jayant Chaudhary emphasised India’s shift from a “back office of the world” to a hub of innovation, calling Kerala the “gateway to a developed India.”

Among the biggest commitments, the Adani Group pledged an investment of Rs 30,000 crore in Kerala over the next five years.

CM Vijayan: ‘Responsible tourism’ will drive growth

Inaugurating the summit, Kerala Chief Minister Pinarayi Vijayan outlined the state’s vision to become a leading investment hub, emphasising the creation of a “knowledge society.” Speaking to The Tribune, he highlighted Kerala’s tourism expansion, investment incentives and sectoral growth plans.

Q: Has the state seen a rise in domestic tourism?

Yes, and it’s evident from the growth in places like Bekal in Kasargod, Kerala’s northernmost district. In 1995, Bekal had only 50,000 visitors. Today, it welcomes over 5 lakh tourists annually. The ratio of foreign to domestic tourists was 1:33 in 2023, proving that travelers from across India are exploring Kerala beyond traditional hotspots like Munnar.

Q: How is Kerala planning to boost tourism further?

We are developing various tourism circuits, including a pilgrimage circuit, to showcase Kerala’s heritage. Our responsible tourism model focuses on economic, social and environmental sustainability. Destinations like Kumarakom have successfully implemented the model, benefiting local communities. Additionally, Kerala leads in medical and wellness tourism, particularly in Ayurveda and has the highest number of 5-star hotels in India.

link