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Friday, January 28, 2022

Kerala CM to hold ‘Investment Roadshow’ in Hyderabad today

The roadshow comes months after KITEX Garments abandoned its investment in Kerala, and announced a Rs 1,000 crore project in Telangana.

Written by Shaju Philip | Thiruvananthapuram |
Updated: January 7, 2022 12:25:27 pm
Kerala CM Pinarayi Vijayan. (Express Photo by Tashi Tobgyal)

Months after the Telangana government wooed Kerala-based KITEX Garments to invest in the state, the CPI(M)-led Kerala government will conduct an “investment roadshow” in Hyderabad on Friday.

An official communication from the Kerala Chief Minister’s Office said a high-level delegation led by Pinarayi Vijayan would meet selected industry leaders of Telangana in an ‘Investment Roadshow’, which is scheduled to be held at 5 pm at Hotel Park Hyatt.

Members of the Confederation of Indian Industry and CREDAI, and representatives from the IT and pharma industries are attending the roadshow.

Members of Parliament John Brittas and Ayodhya Rami Reddy Alla will address the delegates.

“Kerala is showcasing the investment opportunities of the state in thrust sectors, and emerging sectors such as bio-technology, information technology, pharma, and other sunrise sectors, before the entrepreneurs. The legislative reforms, digital transformation, simplification of procedures and industrial infrastructure facilitation taken up by the state are also being showcased,” said the official communication.

The delegation will include State Chief Secretary V P Joy, Principal Secretary (Industries & NORKA) K Ellangovan, Director Tourism Krishna Teja Mylavarapu and Kerala State Industrial Development Corporation Executive Director NSK Umesh.

In July last year, Kochi-based KITEX Garments announced it was abandoning its proposed investment of Rs 3,500 crore in Kerala as “it was difficult to run the existing units due to the hurdles caused by the government”.

Subsequently, the Telangana government invited KITEX to make investment in that state. The Telangana government had even sent a special flight to Kochi to take the KITEX team for discussions.

The group had then announced a Rs 1,000 crore project in that state, with its managing director Sabu Jacob saying he would not invest a single rupee in Kerala.

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