THIRUVANANTHAPURAM: Chief Minister Pinarayi Vijayan on Wednesday made an impassioned plea to investors to facilitate the state’s transformation into a digital economy. He also strongly refuted the notion that the state does not provide a congenial environment for business and investment.
Inaugurating the Silver Jubilee celebrations of IBS Software, Pinarayi said the state offered the best opportunities for investors as it is transforming itself into a knowledge economy and innovation society. “The government is giving utmost importance to industries like IT, which has the potential to change the socio-economic landscape of Kerala.”
“There is unfounded cynicism that the state is unfriendly towards business and investment,” he said. Pinarayi said IBS Software was a living example of how investment-friendly Kerala is. He termed IBS Software as one of the most inspirational business stories from the state.
V K Mathews, IBS Founder & Executive Chairman; Mukesh Mehta, Senior Managing Director, Blackstone, India; Armin Meier, Managing Partner, Boyden, Switzerland and Independent Director, IBS Software; Jochen Goettelmann, CIO, Lufthansa Cargo and Anand Krishnan, CEO, IBS Software, also spoke on the occasion.
Pointing out that Kerala emerged as the ‘Top Performer’ in the States’ Startup Ranking for the third time in a row, the Chief Minister said over the last six years, the number of startups in Kerala has risen from a mere 300 to a massive 3,900. This astronomical growth has been achieved by setting up incubators and accelerators, providing grants and seed funding, and instituting a corpus fund.
Pinarayi lauded IBS founder V K Mathews for investing in Kerala after his return from abroad, and said the company has emerged as a globally reputed firm noted for its excellence in a domain which very few companies have attempted to venture into.
In his welcome address, Mathews said IBS Software has five digital platforms, which power about 30-35 key process areas of the travel industry. When it comes to the breadth and depth of the portfolio, IBS Software is probably the biggest company in the world today, he said.
Mathews said the company’s success lies in several factors like a sector-focused approach and working solely with cutting-edge technologies. The company’s strategy of utilising technology for the benefit of the business and the purpose of supporting customers and helping them achieve their goal were also vital.