Kerala to be Among the Favoured Destinations of Investment in the Country: FICCI

KOCHI:
Kerala is ranked First in Niti Ayog SPG Index (sustainable development goals) in 2021. Kerala has many advantages to become one of the best industry destinations in the country with highly qualified and skilled Human power and infrastructure facilities in terms, rails, road, Airports, sea Ports. The State is one of the few States in India with negligible power cuts and low electricity tariff compared to most other Indian States.

Savio Mathew, Head- FICCI Kerala State Council, said that the state has very strong sectors of growth in Food & Agro Sector, IT & Electronics, Health Care Services, Ayurveda Medicines, Tourism, Retailing, Plantations, Logistics, and Education & Knowledge Sector. Many MNCS have invested in Kerala or set up joint business ventures in Kerala.MSME sector are also performing remarkably well during the last few years except the Set back due to Covid. Kerala has produced many leading Industrialists and have successfully invested in Kerala and outside Kerala.

Many Kerala based brands are well known and some have become International brands During the past few years LDF Govt has introduced path taking reforms in the State with the introduction of K Swift, Invest Kerala Portal. Kerala Micro Small Medium Enterprises facilitation Act 2019, Kerala Industrial Single Window Clearance Boards and Industrial Township Area Development (Amendment) Act 2019, Kerala Commerce Mission, Logistic Committee etc.

The new proposals such as New Land Policy for Reforms of Industries / Trade Protection Act, State redressal Grievance Committee will go a long way in addressing the issues of industry & Trade in the state. It is true that in Ease of doing business Kerala’s ranking needs to be improved one among the top ten. FICCI KESC is of the view that with the reforms already rolled out and the new reforms proposed Kerala would become one of the favoured destinations for Investments in the Country.