Investors gearing up to start ventures in Kerala: Industries Minister P Rajeev


Nation, Current Affairs

In the Health Sector, the Minister said that Kerala is planning to come up with a pharmaceutical park

Kerala Industries Minister P Rajeev. (ANI Photo)

Thiruvananthapuram: Kerala Industries Minister P Rajeev on Thursday said that there is a purposeful attempt to tarnish the investment-friendly image of the state, and contrary to allegations many investors like TCS, V-Guard, and Lullu Group are gearing up to start their ventures in the state.

Giving a list of new investments coming in Kerala, Industries Minister told the Kerala Assembly that Tata Consultancy Service (TCS) will sign an MoU with Kerala Industrial Infrastructure Development Corporation (KINFRA) for Rs 1350 crore.

"The TCS project will be coming up in 36.38 acre land. The first phase will see an investment of Rs 600 crore and in the second phase Rs 750 crore. The TCS board that met on July 14 has given its approval for the same," he said.

Regarding other investments, he said V Guard Industries is investing Rs 120 crore while Lulu Group Ra 700 crore for an Electronic Ware House.

Hinting at the row over Kitex group deciding to wind up its business in Kerala shift outside the state, Minister said, " There is purposeful attempt to tarnish the investor-friendly image of Kerala by spreading baseless allegations," Rajeev said the Kerala government is planning to come up with a new amendment thereby a statutory grievance redressal committee would be established in the state for addressing grievances of the investors.

"Already the complaint redressal mechanism has been strengthened and senior IAS officers have been tasked with it. A unified land ease policy is also in pipeline and an expert committee has been constituted to come up with suggestions," he said.

In the Health Sector, the Minister said that Kerala is planning to come up with a pharmaceutical park, to meet the medicinal requirements of the state.

"The Park will manufacture medical equipment and medicines required by the state. Already we have started manufacturing sanitizer, hand gloves, and PPE kits required for COVID prevention," Minister added.