Pinarayi Vijayan announced Kerala aims to establish 15,000 startups and create one lakh jobs by 2026. Emphasising the state government’s role as a facilitator, he highlighted infrastructure investments, uninterrupted power supply, and widespread internet access.
Published Feb 21, 2025 | 3:50 PM ⚊ Updated Feb 21, 2025 | 3:50 PM
Union Minister Piyush Goyal, Kerala Chief Minister Pinarayi Vijayan, and Kerala Minister P Rajeev.
Synopsis: Chief Minister Pinaryai Vijayan inaugurated the two-day Invest Kerala Global Summit. At the event, Union Minister Nitin Gadkari announced projects worth ₹3 lakh crore for Kerala. Union Minister Piyush Goyal reaffirmed the Union government’s commitment to Kerala’s development.
Union Minister of Road Transport and Highways Nitin Gadkari announced projects worth ₹3 lakh crore for Kerala at the Invest Kerala Global Summit (IKGS) at the Lulu Bolgatty International Convention Centre in Kochi on Friday, 21 February
The announced projects, including ₹10,000 crore for the Palakkad–Malappuram bypass, ₹5,000 crore for the Thiruvananthapuram Outer Ring Road, and ₹6,000 crore for the Angamaly bypass, while virtually addressing the summit. He assured strong central support for world-class infrastructure.
The two-day event was inaugurated on Friday by Chief Minister Pinaryai Vijayan alongside Union Minister Piyush Goyal, Minister of State Jayant Chaudhary, Leader of Opposition in the Kerala Assembly VD Satheesan, and other dignitaries.
Meanwhile, Goyal reaffirmed the Union government’s commitment to Kerala’s development and questioned why the state lags behind India’s overall progress.
However, he publicly backed the Kerala government’s SilverLine project for the first time, citing its potential to reduce travel time. He also praised Kerala’s Industries Minister P Rajeev, calling him an excellent parliamentarian and a “brother.”
Vijayan announced Kerala aims to establish 15,000 startups and create one lakh jobs by 2026. Emphasising the state government’s role as a facilitator, he highlighted infrastructure investments, uninterrupted power supply, and widespread internet access.
Kerala, he stated, leads the country in ease of doing business, ensuring no investor faces hurdles due to land or resources.
Over the past eight years, the state has seen 6,200 startups attract ₹5,800 crore in investment and generate 62,000 jobs, Vijayan said.
Addressing entrepreneurs, Goyal assured swift industrial permits and regulatory reforms to boost growth. He said that the Union government is working in tandem with all states to make India a $30-35 trillion economy by 2047.
Acknowledging differences between the BJP-led Union government and the LDF-led Kerala government, Goyal said he was there to show solidarity with the state and mentioned various strides made by the state in different sectors.
Goyal also addressed the controversy over the Ease of Doing Business ranking. Speaking to the media, the minister responded to P Rajeev’s claim that Kerala ranked first in ease of doing business. He clarified that the system had been discontinued earlier and that the Union government no longer follows a business-friendly ranking system.
The event will be witnessing more than 200 speakers in 28 sessions at various venues. Representatives of Sharjah, Abu Dhabi, Dubai, Swiss and Qatar chambers will also participate.
Satheesan, addressing the summit, emphasised the Opposition’s commitment to fostering an investor-friendly environment in the state.
He assured full support to the government’s efforts to attract investments, highlighting a new political culture where development transcends party lines.
Satheesan underscored the UDF’s pro-development stance, citing key contributions such as Kerala’s pioneering start-up policy in 2015 and the establishment of institutions like Technopark, Infopark, and the Kerala Startup Mission.
He also lauded the improved industrial climate, stating that Kerala has moved beyond its past reputation for trade union militancy.
“We are new-generation trade unionists. We now advise workers to focus on making companies profitable before bargaining for rights,” he said, asserting that there have been no major industrial strikes in the past 15-20 years.
The Opposition leader also called for strengthening Kerala’s traditional industries while embracing emerging sectors like artificial intelligence, biotechnology, and blockchain. He urged the government to ensure continuity in investment-friendly policies, even when in opposition.
Satheesan concluded by reaffirming Kerala’s potential as a leading investment destination, leveraging its skilled workforce and robust infrastructure.
meanwhile, Adani Ports Managing Director (MD) Karan Adani announced a ₹30,000 crore investment in Kerala over the next five years, focusing on Vizhinjam port, Thiruvananthapuram Airport expansion, and a new logistics hub.
He highlighted Kerala’s long history in global trade, from the ancient Muziris port to Vizhinjam’s emerging role in international commerce.
The Adani Group, which began work on Vizhinjam in 2015, has already invested ₹5,000 crore and plans to add ₹20,000 crore. Positioned along major shipping routes, Vizhinjam recently hosted India’s largest container vessel and aims to become the region’s top transshipment hub.
(Edited by Muhammed Fazil with inputs from Sreelakshmi Soman and Dileep V Kumar.)
