By News On Air Jan 15, 2025
Kerala’s ambitious drive to attract international investment gained significant momentum as Industries Minister P. Rajeev led a high-profile delegation to Dubai, securing strong commitments from UAE’s top business and government leaders for the upcoming Invest Kerala Global Summit (IKGS). In a series of strategic meetings on the 13th and 14th of January, 2025, Minister Rajeev engaged with key UAE officials including UAE Minister of Investment Mohamed Hassan Al Suwaidi and Abu Dhabi Chamber of Commerce Chairman Ahmed Jasim Al Zaabi. The discussions yielded a concrete outcome with the UAE confirming it would send a special delegation to the IKGS scheduled for the 21st and 22nd of February, 2025.
Minister Suwaidi expressed special interest in exploring investments in Kerala’s logistics and food processing sectors. The Abu Dhabi Chamber of Commerce announced plans to dispatch officials for preliminary assessments of potential investment locations in Kerala ahead of the summit.
During the investor roadshow at Taj Dubai, the Indian Ambassador to UAE Shri Sunjay Sudhir highlighted the unique position of Kerala in Indo-UAE relations. “Kerala stands out in the trade connection. From humble beginnings, we have reached a stage where India is the UAE’s second-largest trading partner,” Ambassador Sudhir noted, emphasising Abu Dhabi’s emergence as the ‘capital of capital’ with its sovereign wealth fund assets surpassing global financial hubs.
While addressing the potential investors, Minister Rajeev challenged long-standing misconceptions about Kerala’s industrial landscape. “Despite occupying just 1.16 per cent of India’s land area and 2.8 per cent of its population, Kerala contributes a remarkable 4 per cent to the national GDP,” he stated, backing his assertion with compelling statistics about the State’s industrial achievements.
The Minister highlighted Kerala’s dominance in the medical device industry, noting that the state accounts for 24 per cent of India’s medical device industry turnover and 17 per cent of medical device products. He also spotlighted Kerala’s pioneering role in technology, citing the establishment of Keltron in 1973 – India’s first public-sector electronics company – and Technopark in 1993, the country’s first and largest technology park. “Today, Keltron manages AI-based traffic control systems for National Highways and smart city projects, showcasing our technological capabilities,” he added.
The Minister presented impressive statistics from the State’s “Year of Enterprises” campaign, highlighting the establishment of 340,000 new MSMEs in just 2.5 years, generating 740,000 jobs and attracting investments of ₹23,000 crore. Minister Rajeev said that forty per cent of the enterprises are led by women entrepreneurs.
In tourism infrastructure, he pointed out Kerala’s leadership with 51 five-star hotels, the highest in India. He announced plans for an exclusive industrial park for Non-Resident Keralites (NRKs), offering incentives such as 10-20 per cent subsidy for investments between ₹50 crore and ₹100 crore.
The delegation’s meetings included productive discussions with representatives from major industrial groups such as Lootah Holding, Sharaf Group, and Al Dobowi Group. Participants included LuLu Group Chairman M.A. Yusuff Ali, Kerala Industries Department Principal Secretary APM Mohammed Hanish, and KSIDC Managing Director S. Harikishore, underlining the comprehensive approach to attracting investment to the state. The Minister concluded his address by highlighting Kerala’s unique ability to transform resources into capital, citing historical success in converting ornaments, deposits, and liquid cash into industrial capital. “This model is now being extended to NRKs, encouraging them to channel their resources into productive ventures that will further accelerate Kerala’s industrial growth,” he stated.