Latest news with #InvestKerala
Time of India
08-07-2025
- Business
- Time of India
Kerala falls behind while TN eyes Vizhinjam port windfall
Thiruvananthapuram: While the Kerala govt continues to struggle with land acquisition for industries near the Vizhinjam International Seaport, neighbouring Tamil Nadu has moved swiftly to capitalise on the port's potential. The Tamil Nadu govt recently approved four new SIPCOT industrial parks in Tirunelveli district—just across the border and within easy reach of Vizhinjam. A govt order has been issued to acquire over 2,260 acres of land for two parks in Nanguneri. A third park is planned at Moolakaraipatti, while Phase 2 of the existing SIPCOT park in Gangaikondan is ready for launch. All these parks are being developed to utilize the potential of Vizhinjam Port. Meanwhile, social media in Tamil Nadu has been abuzz with posts highlighting these new industrial developments, positioning south Tamil Nadu as the prime beneficiary of Vizhinjam's transhipment traffic and economic potential. Many posts underline the proximity of these parks to the port, promoting it as a strategic advantage—especially since the state missed out on developing a port at Enayam or Colachel. In stark contrast, Kerala has so far identified only about 100 acres near the port through Kinfra, with land negotiations still ongoing in other areas of Thiruvananthapuram district. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Gold Is Surging in 2025 — Smart Traders Are Already In IC Markets Learn More Undo A senior Kerala govt official, speaking on condition of anonymity, acknowledged that Tamil Nadu, which has large land parcels available, is seizing the opportunity and attracting investors by offering competitive lease rates—between Rs 70 lakh and Rs 1 crore for 99 years. "This will adversely impact Thiruvananthapuram's industrial prospects. Major investments may shift to Tamil Nadu if Kerala fails to act swiftly on port-led industrialisation," the official said. APM Mohammed Hanish, principal secretary of the industries department, said Kerala envisions a port-based development corridor stretching from Palakkad to Vizhinjam. "Just as industrial parks are coming up in Tirunelveli and Tuticorin, we already have one in Palakkad. The distance from Palakkad to Thiruvananthapuram is only six hours. The port's impact should extend along this corridor," he said. He added that Kinfra has identified 150 acres a few kilometres away from Vizhinjam Port and the govt is looking for land in Thiruvananthapuram district. At the recent Invest Kerala summit, several investors expressed interest in setting up units near Vizhinjam. Dubai-based Sharaf Group offered to invest Rs 5,000 crore in an Inland Container Terminal. However, the govt asked them to find suitable land on their own. Kinfra had identified about 340 acres in areas like Neyyattinkara, Balaramapuram, Kattakada and Kuttichal, but most of this land still lacks official clearance.
The Hindu
07-07-2025
- Business
- The Hindu
Kaynes Technology to set up unit at Perumbavoor Industrial Park
Kaynes Technology, an electronics system design and manufacturing company, is set to establish a new manufacturing unit in Kerala. The company will be allotted land in the Perumbavoor Industrial Park developed by the Kerala Industrial Infrastructure Development Corporation (KINFRA) to facilitate this expansion. The company representatives, who visited the industrial estate on Monday (July 7), held discussions with Industries Minister P. Rajeeve and secured official approval for land allocation, according to a release. The company had signed a Memorandum of Understanding (MoU) with the Department of Industries, promising around ₹500 crore investment and offering over 2,000 employment opportunities in the State at the Invest Kerala summit. The unit's first phase is expected to be operational within 18 months of land transfer, it said.
The Hindu
01-07-2025
- Business
- The Hindu
INKEL to invest ₹200 crore in group captive solar power project
INKEL Limited, a public-private partnership company under the State government, will invest around ₹200 crore in a renewable energy project under the group captive model. The first phase includes a 23.2-MW solar power project in Malappuram in association with commercial and industrial groups. A term sheet signing for the group captive solar power project was held in the presence of P. Rajeeve, Minister for Industries, here on Tuesday, according to a release. The company has plans to buy land in Kasaragod and Palakkad districts to expand the group captive model scheme projects. Inkel Limited had announced at the 'Invest Kerala' initiative that it was investing around ₹1,135 crore for various projects under the renewable energy, logistics, roads, and other infrastructure sectors, it said.
Times of Oman
21-02-2025
- Business
- Times of Oman
India at forefront of providing growth engine to world, contributing 16 pc of Global growth: Goyal
Kochi: India is at the forefront of providing growth engine to world and contributing 16 per cent of world's overall growth, says Union Minister Commerce & Industry Piyush Goyal. Speaking at the Global Investors Summit 2025 in Kochi on Friday, he emphasized that India's economic rise is a result of both central and state governments working together, fostering a spirit of competition and collaboration. "It is only when the states grow, the country can grow. And today, 16 per cent of the world's growth comes out of India. We are at the forefront of providing the growth engine to the world," Goyal stated. He highlighted that a successful economic strategy involves states cooperating with the central government while also competing with each other to attract investment and promote development. The Union Minister expressed strong support for Invest Kerala, the state's initiative to attract investment. He reiterated the central government's commitment to working alongside Kerala and other states to boost economic growth, manufacturing, tourism, and infrastructure development. Goyal also recalled how Prime Minister Narendra Modi's Vibrant Gujarat summit set the stage for large-scale investment summits in India. He stated that originally an annual event, it later became bi-annual and served as a model for state-level investment promotion efforts. He credited such initiatives for strengthening cooperative federalism, where both state and central governments work as a team to drive economic progress. Highlighting India's rapid economic advancement, Goyal pointed out that the country has moved from being the world's 11th largest economy to the 5th largest in the last decade. "We are poised now to become an internationally relevant player in the world. We have moved from the 11th largest economy to the 5th largest economy in the last 10 years," he asserted. With India continuing to attract global investments and expand its economic influence, Goyal expressed confidence that the country will play an even greater role in shaping the world's economic future.
