Latest news with #InvestKeralaGlobalSummit
Time of India
07-07-2025
- Business
- Time of India
86 projects signed at investor meet enter construction phase, says Kerala industries minister Rajeev
Kerala Industries Minister P Rajeev on Monday said 86 projects have entered the construction phase in the state in just four months since the Invest Kerala Global Summit held in Kochi on February 21-22. These projects are expected to add 40,439 new jobs across the state. Over 20% of companies that initially showed interest have already begun investing, the minister said in a post on X. The combined value of these active projects stands at Rs 31,429 crore, Rajeev said. 'This rapid transition from proposals to execution signals strong investor confidence. Kerala is building a future rooted in advanced technology and high value employment. The momentum is real, and we're committed to taking it further.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Doutor: Reverter encolhimento muscular após os 50 depende deste hábito noturno Revista do Homem Saiba Mais Undo The two-day event had received investment proposals worth Rs 1.53 lakh crore in a sign of investor confidence in the coastal state's investor friendly policies , the minister said. 'Now it is our responsibility to transform every interest into reality. For Kerala and for Keralites, we will give our maximum effort to make this state a hub of knowledge industries and high-tech industries,' the minister said after the summit. While opening the investors meet, Chief Minister Pinarayi Vijayan had said no investor need return for the reason of non-availability of land in Kerala, though land was a scarce resource in Kerala. He also added that no investor coming to Kerala will have to face the cobweb of procedural delays and meet the barriers of red tape. Live Events
The Hindu
04-07-2025
- Business
- The Hindu
20.8% of proposed projects at Invest Kerala Global Summit are operational: P. Rajeeve
Eighty-six projects with a total investment of ₹31,429.15 crore which were promised at the Invest Kerala Global Summit in February this year have become operational till now, Industries Minister P. Rajeeve said here on Friday. Speaking at a press conference on the progress of the projects for which Expression of Interests were received at the summit, he said that out of the 424 projects with a total investment of ₹1.77 lakh crore, work on 20.8% have begun. According to Mr. Rajeeve, on the completion of the 86 projects, 40,439 jobs are expected to be created. Out of the remaining projects which are yet to be started, 268 have already got the required land while 156 are yet to get land. Among those which got land, a total of 29 projects require land conversions or various exemptions to go ahead with their work. Speaking further on the plans for the months ahead, he said that projects worth ₹1,500 crore will begin operations in July, while projects worth ₹1,437 crore are expected to begin in August. A total of ₹1,011 crore investment projects have come across all the eight Kerala Industrial Infrastructure Development Corporation (Kinfra) parks. 'In July, projects worth ₹1,500 crore will commence while in August ₹1,437-crore investment projects are expected to begin. A total of ₹1,011-crore investment projects have come in all the eight Kinfra parks,' he said. Mr. Rajeeve said that the foundation stone for Bharat Biotech's new project will be laid at the Kerala State Industrial Development Corporation (KSIDC) Park in Angamaly. Adani Logistics will set up a logistic park in Kalamassery at a cost of ₹600 crore. IBM has taken over two floors of the Lulu IT Twin Towers, developed by the Lulu Group, at SmartCity, Kakkanad. With this centre becoming operational, Kerala will become one of the biggest centres of the company in India with over 5,000 employees. A dedicated Advisory group, chaired by the Industries Minister, has been formed for monitoring project implementation, coordinating across departments and resolving issues swiftly to enable seamless execution. Principal Secretary, Industries, is the Vice-Chairman and KSIDC MD is the convener of this body, which has representatives of industry and trade bodies, renowned industrialists, and senior government officials as members. The committee meets every two months. The industrial land web portal, has been launched to create a database of land available in the State for industrial purposes, said the Minister. A five-step escalation protocol has been introduced to ensure the timely resolution of investor issues. These include: initial resolution at the nodal officer level, engagement with concerned departments, formal communication if unresolved, escalation to the Secretary level. and, if still pending, final escalation to the minister concerned.
New Indian Express
23-06-2025
- Business
- New Indian Express
Kerala to revise 31 rules to attract more investment
THIRUVANANTHAPURAM: A high-level meeting chaired by Chief Minister Pinarayi Vijayan has decided to amend 31 different rules to make the state more-investment friendly. The amendments will help the state realise the investment proposals received at the Invest Kerala Global Summit (IKGS). The meeting also discussed the formation of a task force under the local self-government department for the speedy implementation of proposals. The revision or amendments are proposed to the rules related to local self-government institutions, departments of revenue, power, environment, labour, agriculture and higher education, said an official release. Relaxations will be made in the rule pertaining to road width requirement prescribed in the Kerala Building Rules, 2019. The maximum area prescribed for commercial buildings in category-II panchayats will be enhanced. Changes will be made in the documents required while applying for building permits on leased lands. Guidelines to regularise constructions made under the Kerala MSME Facilitation Act 2019 will be revised. Parking guidelines for resorts and hotels in the tourism and hospitality sector will also be revised. For this, conditions for assessing building area will be changed. The meeting decided to expedite the unique thandaper (title deed or ownership document) initiative to ensure transparent and efficient land utilisation. Applications for land conversion for project proposals received at the IKGS will be prioritised. A circular will be issued to define the powers of agricultural officers in land category change.
The Hindu
22-06-2025
- Business
- The Hindu
State government to amend rules related to various departments to spur investments
The State government is set to amend several rules related to various departments with an aim to spur more investments. The decision comes in the wake of the Invest Kerala Global Summit organised by the Industries department. A high-level meeting chaired by Chief Minister Pinarayi Vijayan decided to expedite further steps in this regard. As many as 31 rules and policies related to various departments are expected to be amended. The policies and rules related to the Departments of Local Self-Government, Revenue, Electricity, Environment, Labour, Agriculture, Higher Education, and General Policies and Rules will be updated or amended in such a way as to make them investment-friendly, according to a release issued on Sunday. Relaxations will be made to the norms regarding the width of entrance in the Kerala Building Rules 2019. It has also been decided to increase the maximum permissible area of buildings for industrial purposes in Category II Panchayats. Building permit The list of supporting documents required for applying for a building permit on leased land will be revised. The registered lease agreement will be considered as a document for building ownership. The guidelines for regularisation of constructions made under the Kerala MSME Facilitation Act, 2019 will be revised. Amendments have also been proposed in the guidelines for local self-government bodies to accept licenses and deemed licenses issued under the provisions of the Kerala Industrial Single Window Clearance Boards and the Industrial Township Area Development Act, 1999. The norms for mandatory parking facilities for resorts and hotels in the tourism and hospitality sector will be relaxed. For this, the norms for calculating the area of the building will be revised. Consideration will be given to granting permission for expansion by following the building construction rules applicable at the time of the establishment of the enterprise. Task force A task force is also being considered in the Local Self-Government department to give priority to the expressions of interest received at the Invest Kerala Global Summit. As many as 13 amendments to the rules related to the Local Self-Government department are being considered. A decision will be taken in consultation with the Finance department regarding the removal of the provision for payment of additional fees in the Kerala Conservation of Paddy Land and Wetland Act, 2008. The Unique Thandaper Number system will be expedited for transparent and efficient land use. The land conversion applications related to the projects which came up at the Invest Kerala Global Summit will be expedited and considered on priority basis. The confusion in the order regarding the consideration of the Ministerial Committee regarding land ownership above 15 acres for industrial purposes will be resolved. A circular will be issued clarifying the powers of Agriculture Officers regarding change of land type. Training will also be provided to Agriculture Officers. Consideration will be given to revising the fees for permits of the Kerala State Pollution Control Board. The validity period of registration certificates under the Shops and Commercial Establishments Act will be increased. Streamline procedures It was decided to consider proposals to simplify land conversion procedures to facilitate investments, a proposal to streamline the procedures of the Forest and Wildlife department to issue various permits and certificates quickly and transparently, and a proposal to make technical education industry-oriented and strengthen skill development. The amendments are aimed at addressing the shortage of land for industrial use, simplifying the procedures for land acquisition and clearances and formulating rules to expedite clearances related to various departments. Ministers P. Rajeeve, M.B. Rajesh, K. Rajan, K. Krishnankutty, A.K. Saseendran, V. Sivankutty, P. Prasad, R. Bindu, Chief Secretary A. Jayatilak and department secretaries participated in the meeting.
The Print
11-06-2025
- Business
- The Print
How politics spilled over into business as Kitex vs LDF govt in Kerala enters 2nd round
Cut to now, Kerala is at the top of the Ease of Doing Business rankings, and hosted a major investors' summit earlier this year. Against this backdrop, a high-profile visit by Andhra Pradesh Minister for Handlooms and Textiles S. Savitha to Kitex's Kochi headquarters has reignited the long-running debate over the firm's expansion outside Kerala. Jacob said at the time that Kitex had been 'forced to move out of the state'. Thiruvananthapuram: In 2021, as Kerala government was championing its ambition to turn the southern state into a top investment hub, one of the state's largest employers accused the ruling Left Democratic Front (LDF) of driving businesses away. Kitex Garments' managing director Sabu M. Jacob alleged the state was 'hounding' enterprises through relentless factory inspections. Kerala would soon become a 'graveyard of industries,' he declared and announced plans to shift Rs 3,500 crore worth of investments to Telangana. Talking to ThePrint, Sabu said talks with the Andhra Pradesh government are in the initial phase, and that he would take a call on any fresh investment in the state after meeting CM Chandrababu Naidu. His remarks came a day after Kerala Industries Minister P. Rajeev said Sabu's remarks should be seen in a political light, since he is a businessman-turned-politician. Those talking about ease of doing business in Kerala will have to answer to the state's youth at a time when many firms are coming to invest in Kerala, the minister told the media Sunday. Sabu is also the chief of the corporate-backed Twenty 20 party, which is in power in four local bodies in the state's Ernakulam district. While he denied any personal friction with the Kerala government, Sabu did express frustration at what he saw as political posturing by the state leadership. 'By birth, they have only seen to ruin others' hard work. Can a businessman not be a politician? I haven't talked about politics or my party regarding this. The party will go in that line.' His renewed criticism of the state also comes amid the ruling LDF's aggressive promotion of Kerala as an investment destination ahead of Assembly polls next year. The state organised a two-day Invest Kerala Global Summit in Kochi this February, which drew Expressions of Interest (EoIs) worth Rs 1.52 lakh crore from 374 companies. The government also conducted over 40 sector-specific conclaves in the run-up to the summit. Kerala-based political analyst Joseph C. Mathew told ThePrint, 'If Sabu hadn't started the political party, he would not have been in this situation. However, now both the parties also act like they don't need each other.' Also Read: Tharoor-Congress feud sparks buzz in his Thiruvananthapuram constituency, unease in party unit Kitex's plans & Twenty 20 party Founded by M.C. Jacob in 1968 in Ernakulam district's Kizhakkambalam, Anna-Kitex Group, popularly known as Kitex, primarily manufactures garments and aluminium products. According to one report by Economic Times Markets, Kitex saw a steady increase in its revenue in the last three years, with total revenue in FY 2025 being Rs 1,001.35 crore, up from Rs 631.17 crore the previous financial year. In FY 2025, the company with a market cap of Rs 5,608.94 crore booked a profit after tax of Rs 138.73 crore—marking a growth of 146.28 percent compared to the previous fiscal year. Kitex is also one of the largest private-sector employers in Kerala, led by a Malayalee, alongside the Muthoot Group (more than 40,000 employees) and Malabar Group (25,000 employees). Other large employers include US-based tech giant UST Global, which has its India headquarters in Thiruvananthapuram, the company's largest development centre, and together with its Kochi campus, employs over 10,000 people in Kerala. While Kitex is indeed expanding in Telangana, its headquarters remains in Kochi, and it continues operations in Kerala. Sabu said the firm plans to set up two units in Telangana, one in Warangal and the other in Hyderabad. The Warangal unit began operations in April, and the Hyderabad unit is expected to open in December 2026. 'By September–December, we expect to have about 12,000–14,000 employees in Warangal. In total, these two units will employ around 50,000 people,' he said. In Kerala, Sabu claimed the firm employs about 16,000 workers, of which the majority consists of interstate migrants. An official from Kerala's Directorate Of Industries & Commerce told ThePrint on condition of anonymity that despite making allegations, the firm still continues to operate in the state. 'They have been saying that they would leave. But they are still here, aren't they?' Founded in 1992, Kitex Group launched its CSR wing Twenty 20 in 2013 with the aim of transforming Kizhakkambalam—a village on the outskirts of Kochi where the company is headquartered—into a model village. It later transformed itself into a political party and contested the 2015 Kerala local body polls, winning control of Kizhakkambalam panchayat. It then expanded to four local bodies in Ernakulam district in the 2020 local body polls. Though the party doesn't propagate a particular political ideology, it engages with the public through welfare initiatives such as subsidised supermarkets, improved water and electricity supply, among others. In the 2021 Kerala Assembly elections, Twenty 20 contested eight constituencies in Ernakulam district, though unsuccessfully. Its candidate in Kunnathunad garnered a little more than 42,000 votes, finishing third behind the CPI(M)'s winning candidate P.V. Sreenijin and Congress's V.P. Sajendran. What Kerala minister said During his interaction with the media Sunday, minister Rajeev had said many entrepreneurs, including Bharat Biotech's Krishna Ella, have openly praised Kerala as an investor-friendly state. He added that the government is making dedicated efforts to create opportunities that will encourage the youth to remain and thrive in Kerala. 'You should consider that the businessman is also the president of a political party. If you want to understand the opinion of businessmen, you should speak to businessmen. Since he is also a politician, he naturally has political interests too,' he said, referring to Sabu. He also highlighted that Kerala's Foreign Direct Investment (FDI) inflows more than doubled over the past year, an achievement he argued would not be possible if the state were not seen as investor-friendly. According to data from DPIIT, Kerala's FDI surged to Rs 3,300 crore in the previous fiscal year, up from Rs 1,633.42 crore the year before. The state ranked ninth in FDI inflows nationally, with Maharashtra retaining the top spot with Rs 12,000 crore. (Edited by Amrtansh Arora) Also Read: Nilambur bypoll: How Anvar, once Kerala's richest MLA, is adding twist to crucial LDF-UDF contest
