Business tycoons pledge support to Kerala to build a modern economy

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Thiruvananthapuram: Captains of Indian industry, including Ratan Tata and Anand Mahindra, have pledged their support and offered suggestions for Kerala to take giant steps in industrial development without affecting the state’s natural beauty and ecological system.

Meanwhile, Kerala Chief Minister Pinarayi Vijayan said the government will consider setting up an Export Promotion Council for global marketing of its products.

Participating online in a Special Industry Session, which was part of “Kerala Looks Ahead,” an international conference and consultation organised by the State Planning Board on Wednesday, they also acknowledged the new investors friendly climate in the state and identified information technology, education, healthcare and tourism as the sectors that could be promoted vigorously.

Ratan Tata, Chairperson of Tata Trusts, said Kerala’s industrial development may not have been as aggressive as elsewhere in India in the past due to the desire to keep the state beautiful.

He expressed the hope that the international conference and consultation would help Kerala evolve a sensible industrial development policy, covering both the new areas of information technology and traditional tourism without spoiling the state’s beauty.

In his concluding remarks to the session, the Chief Minister said the state offered plenty of opportunities for investment and invited the industry leaders to be partners to the state’s onward journey.

The conclave was an occasion to announce to the world Kerala’s initiatives to build a modern industrial sector, harnessing the skills and enterprises within the state, as part of efforts to build a modern economy and inclusive society.

Noting that growth of the productive forces in Kerala will be based on application of science and technology to agriculture and industry, Vijayan said the state has its task set for the next five to ten years to ensure sustainable, environment-friendly economic growth, and high levels of skill development.

Azim Premji, Founder Chairperson, Wipro Limited, paid glowing tributes to the state’s sustained commitment to human capacity development and empowerment of the local government institutions, which is reflected in its education, health and local governance.

“In many aspects of economic development, Kerala has an excellent performance. I think with this kind of base, which is almost like a developed country in many ways, Kerala’s economic growth can skyrocket,” he said. He also mentioned the state’s education and public health systems that have been functioning effectively.

“The kind of deep community-based campaign for handling the COVID-19 pandemic can be a model for all the states across the country. Whether it is health or education or local governance, we have to learn a lot from your state,” he pointed out.

Holding that the future of businesses was entirely dependent on their conformity to sustainability goals, Anand Mahindra, Chairman, Mahindra Group, said given its core strengths, Kerala can emerge a global hub for an entire spectrum of ‘green businesses.’ “The state has a pro-active government, investor- friendly policies and a very clear vision of the future. So, I will say, Kerala wake up. You can be not just India’s hub but a global hub for green businesses. Think big, think ambitious and think green,” Mahindra said.

“It is in the businesses of the future that the future of Kerala lies. A tectonic shift is taking place in the way businesses engage with goals of sustainability. Businesses can no longer afford to prioritise profit over the planet.

Consumers are demanding change. The next generation, all over the world, has a much more awareness of sustainability because it is their future that is at stake,” he said.

On the Mahindra Group’s areas of synergy with Kerala, Mahindra said their foray into tourism hospitality business was born in the state.

Electrical mobility and agricultural modernisation are two other areas where Mahindra group will continue to engage with the state, he said.

Kiran Mazumdar-Shaw, Executive Chairperson, Biocon Limited, made a strong case for Kerala to invest significantly in life sciences, especially in the areas of research and innovation.

In this regard, she mentioned Cochin Cancer Research Institute in Ernakulam and Regional Cancer Centre in Thiruvananthapuram, saying these are two great emerging cancer centres and have great potential in leading the world in cancer research.

By using the skills in technology, medtech can also be an important opportunity for Kerala.

“In cancer research and medtech, Kerala can take the premier position in the country,” she added.

Kris Gopalakrishnan, Chairman of Axilor Ventures, suggested setting up of world class virtual educational institutions, training centres and universities in Kerala to take full advantage of the emerging industrial atmosphere where every household would become a production centre for small, medium and large industrial units. Kerala should take the initiative to aggregate all the hotels and lodging facilities available in the state on a single platform on the lines of the taxi aggregators to optimise the benefits of tourism.

The state should also become a hub of 5G technology, artificial intelligence, machine learning and biotechnology. M A Yusuf Ali, Chairperson of Lulu Group, announced that his company, which has already pumped in Rs 15,000 crore in various sectors in the state, had plans to invest an additional Rs 8,000 crore as Kerala had the potential to emerge as a leading state in information technology, healthcare, hospitality, food processing, medical equipment, electronics and a wide range of other sectors.

He suggested that the state remove the 15-acre ceiling for industrial units and the setting up of an Export Promotion Council.

He lauded the state government’s efforts to give a major push to infrastructure development.

Dr B Ravi Pillai, Managing Director of RP Group, said it would be good if Kerala, like China, gives permission to start business in a period less than two months of application.

Kerala can focus on strengthening four segments: knowledge-based business, healthcare, tourism and rubber-based industry.

Knowledge-based: IT hubs should graduate from remaining back-office data-processing. The state can become a hub for artificial intelligence and mobility solutions based on clean energy, he said.

Dr Azad Moopen, CMD of Aster DM Healthcare, asked the state government to facilitate full use of the 42 perennial rivers in Kerala by allowing water bottling companies to market these waters in every part of the world. At present, waters of these rivers were going waste, he pointed out.