Thiruvananthapuram: Kerala, known for its business-friendly environment, is set to make a powerful statement at the two-day Invest Kerala Global Summit, which commences in Kochi on Friday. The event is expected to reshape the perception of Kerala’s economic climate, emphasizing the state’s attractiveness as an investment destination.
Redefining Kerala’s Business Potential
While the state’s Left administration faces the challenge of delivering tangible results by the conclusion of Saturday’s summit, the real goal is to shift global perspectives on Kerala’s investment landscape.
According to V.K. Mathews, Executive Chairman of IBS Group, the summit is a strategic initiative to communicate Kerala’s transformation. “We have a past, and the past is history. We have changed for the better since we are now different. The summit is a platform to spread this message,” he asserts.
Mathews, who started IBS in Thiruvananthapuram with just 55 employees three decades ago, has grown it into one of India’s largest IT product providers, employing around 3,000 professionals. However, he remains pragmatic, stating, “Investor summits don’t guarantee investments but provide a space for potential investors to explore opportunities.”
A Positive Investment Climate
Industry leaders, including C.J. George, Founder of Geojit Financial Services, share the sentiment that Kerala’s business environment is improving. He describes the summit as an essential communications tool, highlighting the state’s social infrastructure and ease of doing business.
Despite political debates, Kerala’s pro-business policies are evident. Established in Kochi in 1987, Geojit Financial Services has grown into a major stockbroking firm, employing 3,000 people nationwide, including over 1,000 in Kerala. “Our main operations, data center, and risk management are based here, and we’ve never faced issues,” George affirms.
Entrepreneurs like Paul Thomas, MD and Founder of ESAF Small Finance Bank, see a paradigm shift in Kerala’s economic mindset. “We are embracing entrepreneurship as a culture, and this shift is making Kerala an emerging global innovation hub,” Thomas notes.
Aiming for a Business Renaissance
For Viju Jacob, MD of Synthite, the world’s largest producer of oleoresins, the summit is a pivotal moment in Kerala’s economic journey. “Industries Minister P. Rajeeve and his team have worked hard to make Kerala a business-friendly state,” he says.
Kerala dominates the global oleoresin market, producing 80-90% of India’s supply, with Synthite controlling 40% of global production. Other Kochi-based firms like Akay Group, Mane Kancor Ingredients, and Plant Lipids further solidify Kerala’s leadership in the sector. Jacob emphasizes the need to move forward, stating, “The past is behind us; we must focus on the present and future.”
Expectations and Industry Insights
While major investment announcements are anticipated, George believes Kerala will attract sectors like IT, electronics, precision engineering, and green industries. He acknowledges the extensive groundwork done through roadshows and meetings with industrialists, signaling promising outcomes from the summit.
Mathews echoes this sentiment, stating that companies will explore options before committing. Meanwhile, Synthite plans to enter the nutritional supplement market, with expansion plans rooted in Kerala.
The Green Advantage
Business leaders highlight Kerala’s appeal for environmentally sustainable industries. The state’s historical labor and environmental activism inadvertently positioned it as a leader in eco-friendly sectors. Industries Minister P. Rajeeve underscores Kerala’s strengths: “We have clean air and an abundant water supply,” a pointed contrast to Bengaluru’s water crisis and Delhi’s pollution woes.
A Defining Moment in Kerala’s Economic Future
This is Kerala’s second global investment summit; the first was held under A.K. Antony’s administration in 2003, followed by Emerging Kerala Global Connect in 2012 under Oommen Chandy. However, officials believe Invest Kerala 2025 will mark a transformative moment.
A government representative states, “In five to ten years, this summit will be recognized as a major turning point in Kerala’s journey toward becoming a premier business hub.”
With high-profile investors, industry leaders, and policymakers converging in Kochi, the Invest Kerala Global Summit is poised to redefine Kerala’s economic trajectory, reinforcing its status as an emerging global business destination.
