50,000 Jobs: Construction Begins on 100 Investment Projects from Invest Kerala Global Summit

Thiruvananthapuram: Construction has commenced on 100 investment projects that signed Letters of Intent (LoIs) during the Invest Kerala Global Summit. The industrial park being developed by NDR Space Private Limited, a warehousing and logistics company, at Aluva, Eranakulam marks the 100th project to enter the construction phase.

Several global companies that signed LoIs at the summit have already started work on their projects. Industries Minister P. Rajeev stated that initiating construction on 100 projects in such a short period is a national record. To date, land has been allocated for 276 projects, with a conversion rate of 36.23 percent. These projects, with a total investment of 35,111.75 crore rupees, are expected to generate 49,732 job opportunities across various sectors.

The summit saw 449 companies sign LoIs, committing investments worth 1.80 lakh crore rupees. Among the major global players that have already started their operations are Dynamated, an Italian animation company, and the logistics firm Avigna. Key ongoing projects include the Adani Logistics Park, Bharat Biotech’s life sciences company led by Covaxin developer Krishna Ella, Systrome, SFO Technologies, Gasha Steels TMT Plant, KGA International, Krishna Institute of Medical Sciences, Accos Technologies, Winwish Technologies, WGH Hotels, and Jacob & Richard. These projects cover sectors such as tourism, IT, food processing, electronics, pharmaceuticals, healthcare, and wood-based industries.

For projects with investments under 100 crore rupees, oversight is handled by the Department of Industries and Commerce, while those exceeding 100 crore rupees are monitored by the Kerala State Industrial Development Corporation (KSIDC). Projects located within KINFRA parks are coordinated by KINFRA. An advisory committee, chaired by the Industries Minister, is regularly reviewing the progress of these projects. The Chief Minister also monitors and evaluates the progress of priority projects.

To accelerate project implementation, 22 policy reforms have been introduced. Additionally, the Local Self Government Department has formed a task force to give special consideration to projects initiated through the Kerala Global Summit.

Minister P. Rajeev highlighted that the follow-up activities of the Kerala Global Summit are progressing with the highest conversion rate ever recorded among investment summits in the state. He also mentioned that preparations for projects set to begin in the coming months are well underway, further boosting Kerala's industrial growth prospects.