Change Pitch To Sing In Unison For Kerala

The intense rivalry between political fronts has been a roadblock to Kerala's industrialisation. Recent promises of support from across party lines should send a positive signal to investors

- K M Chandrasekhar

The early months of this year have been busy for investors. They have been shuttling to attend investor summits in Assam, Madhya Pradesh, Uttar Pradesh, Maharashtra and Kerala. Some of these have had five-star billing, inaugurated by no less than the prime minister, while others have had a more businesslike character.

The one held recently at Kochi belongs to the latter. It, however, managed to signal a renewed interest in the state as an industrial destination. Instead of large industries, the focus has shifted to startups and smaller enterprises—an approach more suitable for states like Kerala that do not have vast stretches of land available at competitive prices. Those who attended the conclave and the media have generally reported favourably about the event's organisation and results.

Industries minister P Rajeev, who had carefully prepared the ground for the conclave and talked to umpteen investors, was overjoyed.

"As many as 374 companies have evinced interest in establishing, expanding, diversifying and reinvesting, and submitted expressions of interest that will bring about a consolidated investment of ₹1,52,905.67 crore. Besides, a total of 24 companies expressed interest in expanding operations in the state, bringing an additional investment of nearly ₹8,500 crore and generating job opportunities for 60,000," he said at the end of the session.

Such events have been held before in Kerala, but there were a few significant differences in this one. First, it was conducted with little fanfare and, from all accounts, was businesslike. Second, no attempt was made to exaggerate its success. Third, leaders of other political hues—Congress's V D Satheesan and Indian Union Muslim League's P K Kunhalikutty—stated unequivocally that the opposition would support all efforts to develop the state.