Kerala set for high industrial growth: minister

Dec 13, 2007, 8:10 GMT

Thiruvananthapuram, Dec 13 (IANS) Industrial growth in Kerala is set for a big take-off, with investment flowing in particularly in the infrastructure sector, said the state's industries minister here Thursday.

Kerala's Industries Minister Elamaram Kareem said this was mainly due to the new and dynamic industrial policy that encourages investments and cuts delays.

'The industrial policy of the Left government speaks for itself. We are delighted that it has been widely accepted,' Kareem told IANS.

'The message is loud and clear that Kerala is the place for investors,' he added, pointing out to the signing of the Rs.15-billion ($380 million) Smart City project at Kochi to be be built by Dubai Internet City.

The minister said for projects worth Rs.1 billion ($25.4 million) or more, a committee headed by the chief minister would ensure all approvals are met with within a month.

For investments above Rs.250 million and less than Rs.1 billion, a committee headed by Kareem would ensure sanctioning within a month.

Kareem says these steps have been met with enthusiasm by investors. He cited an instance when he met a group of 50 businessmen in Kerala last month and asked them to invest in a new unit in the state. His request met with instant response.

'I was really happy when I have received firm commitments from all of them. They would invest Rs.100 billion ($2.54 billion) in the next two years in Kerala,' said Kareem.

The state government's initiatives have yielded other results.

For instance, the Construction Industry Development Board (CIDB) of Malaysia has decided to set up a Rs.25-billion ($635 million) industrial township in Kareem's home district Kozhikode.

Kareem says he has also been able to infuse professional management practices into the 42 manufacturing public sector units (PSUs) that comes under his department.

'The chief executives of these PSU's are now accountable. I conduct a performance review every month. This has never ever happened before,' the minister said.

He is also enthusiastic about the setting up of a campus of the National Institute of Fashion Design in Kannur, which would open in the next academic year.

Added to all this has been the efforts of the government to set up various industrial parks like the spices, apparel, knowledge and rubber parks.

'All these parks have been cleared and in the next financial year, Kerala would be known by these parks,' said a confident Kareem.

© 2007 Indo-Asian News Service