CPM in Davos: When a Kerala govt delegation went to World Economic Forum
For the government, this was a major opportunity to reach out to investors before the state investment summit slated for next month
4 min read
Kerala minister P Rajeeve (3rd from left) with Heineken CEO at the Kerala Pavilion in Davos. (X/@PRajeevOfficial)After 19 years, Kerala participated in the World Economic Forum (WEF) held in Davos, Switzerland, from January 20 to 24, marking the first time that a Left Democratic Front (LDF) government attended the event where the global elite gathered annually to discuss pressing
issues.
The state delegation was led by CPI(M) leader and State Industries Minister P Rajeeve. The state had a pavilion at the forum where meetings were held with delegations and investors from across the world. For the government, this was a major opportunity to reach out to investors before the state investment summit slated for next month.
When Kerala last participated in the Davos summit, it was 2006 and then Chief Minister Oommen Chandy made presentations on the progress the state had made on various fronts. This time, Rajeeve led a high-level delegation of senior bureaucrats.
“After a long period, Kerala could showcase the state’s potential in the WEF to attract investment. We had 60 one-to-one meetings, apart from four such events with ministerial delegations. Our participation helped to change a deep-rooted perception that Kerala is not investor-friendly. Delegations led by ministers of various countries turned up at our pavilion for discussions on investment,’’ Rajeeve said after returning from Davos.
The minister said the concern of the state government or the delegation was not the discussions and debates at the WEF. “Our agenda was to showcase the state and its huge potential in various sectors. We considered the event as a single point to meet investors from various countries. Otherwise, we would have to make trips to various countries,” he said.
Rajeeve said the delegation did not make any declaration on the investments or signed MoUs. “We could ensure the participation of more investors and delegations from the countries for the Invest Kerala Global Summit, slated for February 21 and 22 in Kochi. In the investors’ meeting, the state will highlight the potential of knowledge-based and medical device industries. Kerala is already a major player in this sector and the state accounts for 20% of the industry at the national level.”
Last year, Kerala topped in the “ease of doing business reforms” ranking published by the Union Ministry of Commerce and Industries. The state was adjudged the “country leader” in two categories of business-centric reforms and seven categories of citizen-centric reforms that were considered when deciding on the ranking. The business-centric reforms in which Kerala emerged as the top performer are facilitating utility permits for business and paying taxes. Under the Business Reforms Action Plan, Kerala had moved ahead from 28th position to 15th in 2023-24.
According to the 2024 Global Startup Ecosystem Report (GSER), released last June by US-based Startup Genome and Global Entrepreneurship Network, Kerala’s startup ecosystem grew five times faster than the global average. Last year, the Union Ministry of Commerce and Industry declared Kerala as the best performer in the fourth edition (2022) of states’ startup ranking.
State Congress vice president V T Balram said Kerala’s participation in such events should have happened much earlier. “The CPI(M) had stalled economic progress and investment in Kerala in the past. Thus Kerala had lost several opportunities. Now, it is belated wisdom. This is evident in the CPI(M)’s decision to allow foreign universities in Kerala, which they opposed vehemently in the past. Of late, the CPI(M) has realised that the party has to change its stand if Kerala has to move ahead.”
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