Kerala can create an investment-friendly ecosystem in a short span of time, although there are still miles to go, Industries Minister P. Rajeeve has said.
Speaking to the media here on Wednesday, Mr. Rajeeve said the steps such as providing licence for ventures with investments of up to ₹50 crore in seven days, replacing outdated laws and outdated provisions in the rules, ‘Meet the Minister’ programmes at the district level to promote investment in key sectors and so on were apart of the government’s effort to make the State one of the best investor-friendly ones in the country.
The State can attract a total of ₹11,800-crore investment proposals in less than a year through these initiatives. However, the State is yet to receive its due recognition in terms of its achievements in various sectors owing to various reasons, said Mr. Rajeeve, while mentioning the media’s tendency to go after sensationalism.
Even the German carmaker Mercedes-Benz has to recall nearly one million vehicles worldwide due to a potential problem with the braking system, but a small switch complaint of the home-grown joint venture hardware manufacturer Coconics was given out-of-proportion media coverage despite its other competitive factors. This type of approach will dent the prospects of home-grown products, he said.
Though a lot of reforms were introduced with the aim of making the public sector companies more competitive and profit-making, such as preparing master plans for each unit, there is still a lot to be done in traditional sectors such as coir and cashew where a comprehensive change is required in tune with the times, the Minister said.
The high production cost despite the import of raw materials is one of the main challenges faced by the traditional sectors such as cashew, said Mr. Rajeeve.
On K-Rail
There was nothing wrong in the statement of the Chief Minister that the SilverLine project could be taken forward only if the Centre provided final clearance. This is a fact everyone knows, said Mr. Rajeeve in reply to a question about K-Rail.
The success of the Congress candidate in the Thrikkakara byelection would not dent the image of the Left Democratic Front (LDF) in the State. In the 2019 byelections, the United Democratic Front (UDF) wrested the Aroor Assembly seat from the LDF, but the seat was wrested by the LDF in the next Assembly elections. There are a lot of factors that contribute to the success of a candidate, he said.
