The upcoming Invest Kerala Global Summit (IKGS2025) aims to generate maximum investments in key sectors which have been identified by the state government in its new industrial policy, State Industries Minister P.Rajeeve has said.
The seven focus pillars are fostering entrepreneurship, enabling infrastructure, being IR 4.0 ready with robotic manufacturing, data analytical tools, etc., skillset upgradation for futuristic jobs sectoral ecosystems, being ESG compliant, and the ‘Kerala’ brand.
The focussing sectors also include Artificial Intelligence, Robotics, and Other Breakthrough Technologies; Ayurveda; biotechnology and life Sciences; design; Electric Vehicles; Electronic System Design and Manufacturing; Engineering Research and development; nanotechnology; the retail sector, and several others.
Knowledge economy
Speaking to media persons, the Minister said the State will project its potential to become the centre of the knowledge economy by utilising the rich pool of human resources.
Kerala has already emerged as a software development centre for global IT companies, and a global centre for automobile software technology is coming up in Thiruvananthapuram. This will facilitate the setting up of units by global automotive companies such as Nissan and BMW, he said.
Campus industrial parks
Plans are also afoot to set up campus industrial parks to offer skills and vocational training to students. Ten companies are initially ready for announcement. Besides, 31 private industrial parks have been approved, he said.
Kerala has emerged as a major hub for medical devices and allied industries. The State accounts for 24 per cent of the country’s total medical device turnover and more than 12 per cent of the world’s blood-bag production, the Minister said.
Kerala has raised an investment of ₹22,104.42 crore in the ongoing Year of Entrepreneurs initiative. This amount has been raised from the State’s domestic investment capacity, prompting the government to consider a long-term future use of this model, he said.
Referring to the IKGS2025, the Minister said the state government will ensure that the business proposals presented at the summit are converted into actual projects. The authorities will make public the details regarding various stages of completion of projects generated at the meeting.
Kerala State Industrial Development Corporation will organise IKGS2025, which will be held on February 21 and 22 at Lulu Bolgatty International Convention Centre.