Invest Kerala Summit: Minister Rajeeve Lays Foundation Stone for First Project

KOCHI:
Industries Minister P. Rajeeve today laid the foundation stone for real-estate major Geojit’s IT complex at Infopark Phase-II, marking fast-paced implementation of the projects that came up at the Invest Kerala Global Summit (IKGS 2025) held here in February.

Significantly, this is the first project out of a large number of Expressions of Interest received at IKGS, organised by the state government, to have its foundation laid.

The IKGS had brought in investment proposals worth Rs 1.96 lakh-crore, including those in the IT sector. The Government expects that at least 60 per cent of these proposals will be realised, the Minister noted, adding that the national realisation average from similar investment summits was less than 20%.

Thirteen projects received at the IKGS will start this month itself, the Minister said at the ceremony in suburban Kakkanad.

To achieve the target, Kerala State Industrial Development Corporation (KSIDC) led weekly review meetings with the stakeholders. In addition, a dashboard has been set up to assess the progress of the projects.

The Minister said the government was taking “all possible steps” to facilitate industrial development and attract investment in the state. As part of this, the lease period has been increased from 30 years to 90. The project is being implemented on the basis of framework works to ensure speedy implementation, he added.

Recalling that it has been decided to use the land of PSU Traco Cable for the development of Infopark, the Minister said the plot will be made available as soon as possible amid smooth clearances of legal hurdles.

“Kerala’s most valued capital is its talented workforce which is enabling to emerge as a knowledge economy. There is great potential for industries in this sector,” he noted.

Geojit Chairman C.J. George pointed out that the project was shelved due to some confusion regarding the lease period, but got it revived, thanks to the steps taken by the State Government. The industry community had specifically raised issues relating to the lease period at Invest Kerala Global Summit, George recalled, hailing the minister for initiating reforms for the growth of industrial sector.

Ernakulam District Collector N.S.K. Umesh and KSIDC General Manager Varghese Malakkaran, besides top officials of KSIDC, Infopark and Geojit were present at the function.

The headquarters of the city-based Geojit’s IT and IT-related services is coming up in Infopark Phase II. The work on the 16-floor building, with an area of 1,30,000 square feet, is expected to be completed within two years.