Vizhinjam Port Master Plan in Final Stage to Boost Kerala's Economy, Says Minister

The Kerala government is developing a detailed master plan to maximise the potential of Vizhinjam port for various sectors, according to State Industries Minister P. Rajeeve. He shared this information while interacting with investors at the Conclave on Continuing Investments, organised by the Kerala State Industrial Development Corporation (KSIDC) and the Department of Industries and Commerce.

Representative image

Focus on Various Sectors

The master plan, nearing completion, aims to benefit sectors such as medical devices, electronics, and manufacturing. Rajeeve highlighted that this strategy would help in leveraging the port's capabilities for these industries. The conclave saw participation from 282 entrepreneurs who have each invested over five crore rupees in Kerala in the past three years.

Rajeeve also addressed questions about the solar energy sector. He mentioned that the government reimburses 25 per cent of equipment purchase costs and provides incentives up to Rs 25 lakh for priority sectors identified in the Industrial Policy 2023.

International Roundtable Series

Discussing sector-specific issues, Rajeeve announced an International Roundtable series focusing on 12 sectors. The first roundtable on robotics will take place on August 24 in Kochi, featuring investors, researchers, and startups. This initiative aims to foster discussions and collaborations within these sectors.

Meanwhile, Rajeeve revealed plans for an entrepreneurship index to assess the status of industries and investment potential across Kerala's 14 districts. This pioneering effort will rank districts based on investment levels and job opportunities in various sectors.

The minister pointed out that Kerala has the lowest industry failure rate in India at 15 per cent, half the national average. The upcoming entrepreneurship index will help identify suitable industries for each district at a glance.

Investment Events

To promote investments over the next two years, Rajeeve announced plans for investment events at the panchayat level in September and October. These events will showcase regional investment potential and authorities' attitudes towards industry development.

Rajeeve emphasised that these efforts aim to ensure successful investments by revealing not only potential but also local authorities' perspectives on industry growth.