SME Times News Bureau | 15 Sep, 2012
The three-day Emerging Kerala 2012 Global Connect conference ended Friday evoking 45 specific project proposals with investments of over Rs.40,000 crore.
Speaking at the valedictory function of the conference Chief Minister Oommen Chandy said: "I am pleased to inform you of 45 specific project proposals with investments of over Rs.40,000 crore, including BPCL's (Bharat Petroleum Corporation Ltd.) Cochin Refinery expansion and the joint venture project of Rs.18,000 crore, Volkswagen's Engine Assembly unit with an estimated cost of Rs.2,000 crore, a hospital and pre-cast concrete structure manufacturing unit for an amount of Rs.570 crore and a solar energy plant of Rs.500 crore."
He said the Confederation of Indian Industry (CII) has already announced setting up of a Centre of Excellence in Entrepreneurship in Kerala.
Chandy said 43 business proposals were discussed between Kerala and the companies from UK, USA, Japan and Canada.
He said the Emerging Kerala event attracted 4,676 participants.
"The government is also bringing out necessary amendments to the Single-Window Clearance Act, including making the application process online for effective and faster clearance," Chandy said.
"We will further strengthen the entrepreneurial ecosystem to accelerate this transformation by providing infrastructure in the form of a technology innovation zone in about 10 acres of land in Kochi with an initial investment of Rs.100 crore," Chandy said.
The chief minister added that the government would come out with a student entrepreneurship policy, which would provide 20 percent attendance and four percent grace marks to students engaged in entrepreneurship during their study.
Chandy later said that the government would soon send notices to private parties to take back the land allotted to them by the government if their projects have not taken off.
Delivering the valedictory address, K. Sankaranarayanan, governor of Maharashtra, said: "The first and foremost concern of any investor is political stability and continuity of policy. Businesses cannot operate in an atmosphere of political instability. Political stability is a precondition for good governance."
Urging Kerala to send a strong message to investors that the government means business, Sankaranarayanan said a stable government, strong political leadership and consensus among all political parties will go a long way in creating a favourable atmosphere for investment.
Kerala's Minister for Industries P.K. Kunhalikutty said that the government does not plan to attract investments offering tax incentives like many other states.