Invest Kerala Global Summit: Foreign Investment Projects Among Those Coming in; 50,483 Jobs Being Created

Kochi: Minister P. Rajeev said that the Invest Kerala Global Summit held in Kochi was one of the major milestones in Kerala’s industrial history. The event was organised in Kochi on February 21 and 22.

As ten months have passed since the investors’ meet, another chapter of history is being written, the minister noted in a social media post. Through projects that have already begun construction, investments worth 35,463.070 crore rupees and 50,483 employment opportunities are being created in the state.

P. Rajeev had earlier stated that the follow-up actions after the Kerala Global Summit are progressing with the highest conversion rate recorded among investor summits held in the state so far.

Full text of the post (translated):

The Invest Kerala Global Summit organised in Kochi on February 21 and 22 was one of the milestones in Kerala’s industrial history. As ten months have passed since the investors’ meet, another historic achievement is now being added.

The speed at which investment commitments are being converted into actual investments within a short period has now created a new record. Kerala has already recorded the highest conversion rate in India in turning expressions of interest into real investments. Of the investment commitments, 23.16% have been converted into actual investments. In the case of projects where land has been allotted, the conversion rate stands at 37%.

The ten months that have passed clearly prove that the Invest Kerala Global Summit (IKGS) was a major success in demonstrating Kerala’s investor-friendly environment to the world. A total of 449 expressions of interest were signed at IKGS. Investment intent letters worth 1.81 lakh crore rupees were received by the state, promising nearly five lakh employment opportunities.

Most of these investment intent letters were signed in sectors such as tourism, food processing, manufacturing of electronic components, IT and IT-enabled industries, wood-based industries, rubber products manufacturing, pharmaceuticals, healthcare, and Ayurveda and wellness.

From global brands to homegrown Kerala companies, many expressed interest in investing. Construction has already begun on 104 investment projects, which is a new experience for Kerala. Kerala has consistently remained in the top tier of investor-friendly rankings for the second consecutive time. With the vision of making use of this favourable situation, including foreign investment projects, investments have flowed into the state.

Through projects that have already commenced construction, investments worth 35,463.070 crore rupees and 50,483 employment opportunities are currently being generated in Kerala.