Invest Kerala Global Summit: Kerala CM Pinarayi Vijayan promises to cut red tape

Kerala Chief Minister Pinarayi Vijayan said here on Friday (February 21, 2025) that the Left front government has ensured that no investor coming to Kerala will have to face the “cobweb of procedural delays and meet the barriers of red tape.”

“We have made major strides in simplifying procedures as regards investments. The government considers that it has a great role to play as a facilitator and a catalyst,” he said in his inaugural address at the two-day ‘Invest Kerala Global Summit.

“Kerala’s investment scenario is in the cusp of history. We are witnessing progress and change for the better in our investment arena. It is at this juncture that this summit is taking place bringing together global investors, visionaries in the field, experts and policy makers, aiming to explore the investment potential of Kerala, and witness our initiatives towards building an investor-friendly architecture in the State,” he said.

He said that the changes brought by the Left government are not incremental but substantial. “Kerala, the State which has become a noteworthy example of achieving a high score in Human Development Indicators, is now taking a leap towards achieving the status of an investment hub,” he said.

The Chief Minister quoted the Kerala Micro, Small, Medium Enterprises Facilitation Act, 2019 as an example for simplification of procedures under which MSMEs can start by obtaining acknowledgement certificate from the online K-SWIFT portal. Necessary licences need to be obtained within a period of next 3 years and 6 months, he said.

He said that the government has focussed a lot on the development of transport infrastructure. The State, despite its fiscal constraints, has contributed 25% of the cost for land acquisition for widening of national highway 66 and taking all steps to get approvals of the Union government for railway development necessary for running high speed trains, he said.

He said that Kerala has made major strides in the start-up sector. “In the last 8 years, Kerala has witnessed establishment of 6,200 start-ups with an investment of ₹5,800 crore creating 62,000 employment opportunities. We aim to establish 15,000 start-ups and create 1 lakh employment opportunities by 2026. Kerala’s initiatives in the area has been acknowledged globally. Global Startup Eco-system Report stated that there is 254% growth in start-ups from July 2021 to December 2023,” he said.

Union Minister of Commerce and Industry Piyush Goyal, Jayant Chaudhary, Minister of State for Skill Development and Entrepreneurship, Abdulla Bin Touq Al Marri, Minister of Economy, UAE, Leader of the Opposition V.D. Satheesan, P. Rajeeve, Kerala Minister for Industries, were among those who attended the inaugural session.

Nitin Gadkari, Union Minister of Road Transport and Highways, addressed the gathering online.