Misgivings about Kerala as an investment destination being cleared, says Governor

Misgivings about Kerala’s suitability as an investment destination are being cleared through new initiatives and plans, Governor Arif Mohammed Khan has said. He was speaking after releasing the ‘Kochi Declaration’ drawn up at the end of the two-day conference organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) in collaboration with the Kerala State Industrial Development Corporation (KSIDC) in Kochi on Friday.

Misgivings about Kerala’s suitability as an investment destination are being cleared through new initiatives and plans, Governor Arif Mohammed Khan has said.

He was speaking after releasing the ‘Kochi Declaration’, drawn up at the end of the two-day conference organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) in collaboration with the Kerala State Industrial Development Corporation (KSIDC) in Kochi on Friday.

Mr. Khan said the positive change was evident in the large number of registrations in the State’s MSME sector recently. “Fifty of our young start-ups mentored by the Kerala Startup Mission fared well at GITEX Global 2023 hosted by Dubai recently. As a State with high literacy rate and social awareness, people aspire for a better quality of life, which they expect to achieve from work. Often this is mistaken as a demand for exorbitant wages, which is something endemic to Kerala, making some industrialists and investors migrate to other States,” he said.

“Behind this change, we can see the larger picture of India’s unflinching commitment to initiate change from the top to the ground level in the industry through the ease of doing business and business reform action plan. We have seen how India’s ranking in the ease of doing business has improved through many futuristic reforms in recent years,” said the Governor.

Nation-building is an idea to be highlighted in deliberations about business. “Our business environment is experiencing a new vitality. Care and empathy towards employees, better and open communication, sharing of new ideas, effective conflict resolution, and fostering a sense of trust are what characterise a new management style,” said Mr. Khan.

He said the generosity and compassion of policymakers helped streamline the regulatory process. Doing away with bureaucratic hurdles and offering incentives and subsidies would encourage people to take up business. “During the last four years, I tried my best to persuade people in other parts of the country to come and explore opportunities in Kerala. But people flatly refused. Therefore, this event was a courageous initiative,” he said.

FICCI has prioritised six sectors, including information technology, tourism, education, and retail, to promote the economic growth of Kerala.