After Kitex snub, Kerala woos investors from Telangana

Addressing the investors at the roadshow, Pinarayi made a strong pitch to invest in Kerala saying the state was going through an exciting and dynamic phase in its economic development.

Published: 08th January 2022 06:33 AM  |   Last Updated: 08th January 2022 06:33 AM   |  A+A-

Kitex Garments chairman Sabu M Jacob

Kitex MD Sabu M Jacob

By Express News Service

THIRUVANANTHAPURAM: Five months after Telangana managed to persuade Kochi-based Kitex Group to invest in the state, Chief Minister Pinarayi Vijayan held an investment roadshow in Hyderabad on Friday inviting industrialists there to Kerala.

Addressing the investors at the roadshow, Pinarayi made a strong pitch to invest in Kerala saying the state was going through an exciting and dynamic phase in its economic development. “Our aspiration is to become the leader in attracting investors to the state in industries that conform to the overarching goals of environmental sustainability,” Pinarayi said. While announcing that the state would achieve its industrial goals with determination and focus, he said the state is looking for strategic partnerships in key sectors. 

The CM’s roadshow in Hyderabad assumes significance as it was only in September last year Sabu Jacob, MD of Kitex Group, announced Rs 2,500-crore investment in Telangana and that he would not make anymore investments in Kerala due to “harassment” by the state government officials. 

Pinarayi assured the CII, Credai and senior IT officials that the facilities in Kerala are on a par with the best in the country.  “The state is gifted with strengths that are better than what is found in other regions in the country,” he said.

The CM also listed the achievements the state made in recent times and the path-breaking laws it enacted to facilitate industrial growth of the state. The state has taken many initiatives to support and drive investments in key segments of the healthcare industry to meet the challenges posed by the pandemic. The first is the BIO 360 Life Sciences Park established at Thonnakkal in Thiruvananthapuram to create a holistic ecosystem for life science. The proposed Medical Devices Park and vaccine production unit are a few other examples, the CM said.

“Kerala is the first state in the country to enact a one-stop omnibus legislation — the Kerala Investment Promotion and Facilitation Act, 2018 — to facilitate a smooth experience for investors. Further, two pathbreaking IT-enabled initiatives — the Kerala Single Window Interface for Fast and Transparent Clearance, and the  Invest Kerala Web-portal — show the determination of the state to boost industrial growth in the state,” said Pinarayi.



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