KOCHI: Kerala’s renewed push to transform itself into a major investment destination got off to a promising start with the Union and state governments joining hands to underline the state’s achievements and development plans on the opening day of Invest Kerala Global Summit (IKGS) 2025 on Friday.
“The changes we have brought about now are not incremental but substantial. Kerala is taking a big step towards the goal of achieving the status of an investment hub. The state government believes it has a major role to play as facilitator and catalyst. We have adopted a holistic view and are paying equal attention to all aspects – from policy formulation to last-mile implementation,” said Chief Minister Pinarayi Vijayan.
He was inaugurating the two-day summit at Lulu International Convention Centre in Bolgatty.
Taking his cue from the CM, Union Minister of Road Transport and Highways Nitin Gadkari, who spoke at the event virtually, announced 896 km of new roads - encompassing 31 road projects worth Rs 50,000 crore.
The Adani Group has promised Rs 30,000 crore in the next five years, including an additional investment of Rs 20,000 crore in Vizhinjam port, while healthcare major Aster DM Healthcare announced Rs 850 crore investments over the next three years.
Kaynes Technology India, a Mysuru-headquartered integrated electronics system design and manufacturing company, said it will invest Rs 500 crore in Kerala to set up its manufacturing campus in or around Thiruvananthapuram.
Union Minister of Commerce and Industry Piyush Goyal expressed the Centre’s full solidarity and support to the state’s investment push. “Entrepreneurship is in the blood of Keralites,” he said.
Centre will always ensure Kerala is not left behind: Union Minister Goyal
“The USD 4 trillion Indian economy will be developed into a $35 trillion economy by 2047, and the Union government will always ensure Kerala is not left behind,” Union minister Piyush Goyal said.
Saying that Kerala’s investment scenario was on the cusp of history, the CM asserted that debate and criticism should be aimed at achieving progress, and not the other way round, alluding to the recent controversy triggered following Congress MP Shashi Tharoor’s article praising Kerala’s achievements that appeared in TNIE last week.
“When criticism becomes the end and not the means to achieving improvement, it ceases to be constructive,” Pinarayi said, adding, “Nevertheless, tangible achievements speak for themselves and with information at their disposal, the public can appreciate the progress achieved by the state.”
Pinarayi said Kerala was witnessing progress and change for the better in its investment arena.
“It is at this juncture that this summit is taking place, bringing together global investors, visionaries in the field, and experts and policymakers, with the aim to explore Kerala’s investment potential,” he said.
“The share of manufacturing sector in gross state value added, which was 9.8 per cent in 2014-15, has risen to 11.5 per cent in 2023-24,” Pinarayi said.Besides developing infrastructure, the government has given high priority to providing uninterrupted electricity by expediting the completion of power highways, said the CM.
“Let me share with happiness and pride that Kerala is a state without power cuts,” he said.
The CM also tried to allay fears of unavailability of land, saying the government has declared in the budget that no investor will return without investing due to non-availability of land, and highlighted the land pooling system the government has come up with.
At the event, Leader of Opposition V D Satheesan promised the Opposition’s “steadfast commitment to the development” of Kerala. “Regardless of political affiliations, our collective goal is to propel Kerala into a future of economic prosperity and industrial excellence,” he said.
First day, good show
Investment blitz
Rs 50,000 crore by Centre for 31 road projects.
Rs 30,000 crore by Adani Group over next 5 years.
Rs 850 crore by Aster DM Healthcare in 3 years.
Rs 500 crore by Kaynes Technology India, Mysuru, to set up manufacturing campus.
Positive notes
Entrepreneurship is in the blood of Keralites. The union government will always ensure that Kerala is not left behind - Piyush Goyal, Union Commerce Minister.
Oppn is taking an initiative for the start of a new culture. We are giving our full support in all aspects to make Kerala investment-friendly - V D Satheesan, Leader of Opposition.
With investors from diverse industries and countries coming together, this platform (Invest Kerala Global Summit) is set to shape Kerala’s next phase of industrial growth - P Rajeeve, Industries Minister.
Nations present on Day 1: The UAE, Bahrain, Australia.
