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Kerala's Investment Promotion Task Force firms up plans to lure big investments 

Kerala's Investment Promotion Task Force firms up plans to lure big investments 

Published:02 July 2020

The Kerala Government constituted Special Investment Promotion Task Force has decided to draw up a time-bound action plan to position the state as a major investment destination. The aim is also to attract foreign investors who wish to relocate manufacturing bases to the southern state post-COVID-19 outbreak.

Thiruvananthapuram | The Kerala Government constituted Special Investment Promotion Task Force has decided to draw up a time-bound action plan to position the state as a major investment destination.
The aim is also to attract foreign investors who wish to relocate manufacturing bases to the southern state post-COVID-19 outbreak.
The Task Force held its first meeting here today under the chairmanship of Dr Vishwas Mehta, Chief Secretary, and Vice-Chairman Dr K Ellangovan, Principal Secretary, Industries & Commerce to formulate a conducive action plan to create a promising and enduring investment climate in the state.
The meeting was attended by all the 23 members of the task force.
Chief Minister Pinarayi Vijayan had recently constituted the task force to showcase Kerala as a preferred destination for investments in India with unique offerings in focus sectors of Life Sciences & Healthcare, Agro & Food Processing, Urban Infrastructure, Pharmaceuticals and Manufacturing, among others.
The task force's primary objective is to showcase the states unique advantages to the Global audience and build an investor-friendly ecosystem that would follow a "Collaborative" and "Investor first" approach to make "Investing in Kerala Simpler, Faster and Friendlier." It also aims to develop a strategy to attract foreign investors who wish to relocate manufacturing bases post Covid-19 outbreak.
The meeting was attended, among others, Rajesh Kumar Singh, Additional Chief Secretary, Finance, T K Jose, Additional Chief Secretary, Water Resources, K R Jyothilal, Principal Secretary, Transport, Sanjay Kaul, Secretary, Ports and Rani George, Secretary, Tourism.
The discussions centred on sectors that Kerala must focus on to build a unique brand for investments globally.
Stressing the need to change the current perception about the state, the members also wanted simplification of the land acquisition process, building a comprehensive Industry-Academia Collaboration, job creation, gaining self-sufficiency by transforming Kerala from a consumer economy to a manufacturing economy, improving health and social infrastructure by promoting Make in Kerala initiative.
Suggestions were also made on improving the states online single-window clearance mechanism, encouraging wage subsidy incentives and promoting sectors like Healthcare, Life Science, Defence, MSMEs, Manufacturing, etc. through exclusive sector-specific industrial parks and townships.


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