IT Industry can Change the Socio-Economic Landscape of Kerala: Chief Minister

THIRUVANANTHAPURAM:
Chief Minister Pinarayi Vijayan today strongly refuted the notion that Kerala does not provide a congenial environment for business and investment, and made an impassioned plea to investors to facilitate the state’s transformation into a digital economy.

Inaugurating the Silver Jubilee celebrations of IBS Software, one of world’s most accomplished Travel technology companies, Vijayan said Kerala offered the best opportunities for investors as the state is transforming itself into a knowledge economy and innovation society. “The government is giving utmost importance to industries like IT, which has the potential to change the socio-economic landscape of Kerala.”

“There is unfounded cynicism that Kerala is unfriendly towards business and investment,” he said, adding that “IBS Software is a living and thriving example of how investment-friendly Kerala is. IBS Software is one of the most inspirational business stories from Kerala” the Chief Minister said.

V K Mathews, IBS Founder & Executive Chairman; Mukesh Mehta, Senior Managing Director, Blackstone, India; Armin Meier, Managing Partner, Boyden, Switzerland and Independent Director, IBS Software; Dr Jochen Goettelmann, CIO, Lufthansa Cargo and Anand Krishnan, CEO, IBS Software, also spoke on the occasion.

Pointing out that Kerala emerged as the ‘Top Performer’ in the States’ Startup Ranking for the third time in a row, the Chief Minister said over the last six years, the number of startups in Kerala has risen from a mere 300 to a massive 3,900. This astronomical growth has been achieved by setting up incubators and accelerators, providing grants and seed funding, and instituting a corpus fund.

Vijayan lauded IBS founder V K Mathews for investing in Kerala after his return from abroad, and said the company has emerged as a globally reputed firm noted for its excellence in a domain which very few companies have attempted to venture into.

“The firm that humbly started its operations with 55 inexperienced employees has grown into multidimensional proportions today with over 3,500 employees. It has established itself as the leading provider of technology solutions to some of the largest airlines, busiest airports, renowned hotel chains, leading cruise lines and top oil & gas companies across the world,” he noted.

Underscoring the immense potential of the technology industry for its inclusive growth and a trigger for employment generation, he said “We are aiming to construct 63 lakh square feet of IT space and create 67,000 job opportunities during the tenure of this government.”

“A fact that is quite often overlooked is the inclusive nature of the IT sector in the State,” he said, and referred to a survey conducted among IT workers in Kerala that revealed the high number of employees from rural areas. It also pointed out that those who studied in Malayalam medium schools and came from the households of daily wage earners are employed in Kerala’s IT sector”, the Chief Minister added.

In his welcome address, Mathews said IBS Software has five digital platforms, which power about 30-35 key process areas of the travel industry today.

When it comes to the breadth and depth of the portfolio, IBS Software is probably the biggest company in the world today, he said.

Mathews said the company’s success lies in several factors like sector-focused approach and working solely with cutting edge technologies. The company’s strategy of utilising technology for the benefit of the business and the purpose of supporting customers and helping them achieve their goal were also vital.

The event witnessed the presence of over 500 delegates including IBS Software’s global customers, business leaders, government officials and other stakeholders.