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Kerala Emerges ‘Achiever’ in Investment Potential Ranking of Indian States

In Business
February 12, 2019

Kerala has emerged an achiever in the State Investment Potential Index 2018 based on six pillars of land, labour, infrastructure, economic climate, political stability & governance and business perception, a top investment meet was told today.

The Kerala-specific findings of the survey conducted by the National Council of Applied Economic Research titled ‘NCAER-State Investment Potential Index 2018’ (N-SIPI) were released at ASCEND KERALA 2019 here.

NCAER Director-General Dr Shekhar Shah speaking at the first plenary of ASCEND KERALA 2019, aimed at empowering enterprises, said that Kerala ranks fourth on how it is perceived as an investment destination, after Gujarat, Haryana and West Bengal.

“The perception driven pillar is a unique component of the N-SIPI which focuses on the policy and structural backdrop that determines the business environment in a state,” he said.

Earlier opening the discussions, Vice Chairman, Kerala State Planning Board VK Ramachandran noted that when we say Kerala, the things that come to our minds are health, education, water, greenery etc. Even while retaining those, the Government’s intention is to add manufacturing as a synonym of Kerala.

“The depth of the home market in Kerala can be leveraged,” the Chairman of the session Ramachandran added.

Invest India Vice President Dushyant Thakur spelt out the 10 investment strategies for Kerala including investible projects; translating sustainable development goals into projects; asset recycling; aftercare and business models.

“The business model in Kerala is unlike any other, Israel being possibly the only parallel in the areas of innovation and startup,” he said even while adding “aftercare is one critical aspect that states generally don’t pay attention to.”

Aeka Biochemicals Managing Director Aardra Chandramouli recounted her experiences of being startup entrepreneur in Kerala.

“The Government has given thrust to biotech and green initiatives. The state is environmentally aware with an educated customer base that accepts technology-driven products and processes,” and hoped that going forward the startup “silo effect” would be addressed.

To a round of applause NavAlt Solar and Electric Boats CEO Sandith Thandasherry said India’s first solar ferry ‘Aditya’ has plied over 40,000 kilometres, carried over 6.5 lakh people in the last two years, in the process preventing 150 tonnes of carbon emission. The manufacturing sector in Kerala needs exemption from hartals, he added.