Kerala to explore master plan to maximize Vizhinjam port’s potential

Kochi:Kerala is set to develop a detailed master plan to fully exploit the capabilities of Vizhinjam port for various sectors, State Industries Minister P Rajeeve announced on Monday.

Rajeeve was interacting with investors at the day-long 'Conclave on Continuing Investments,' organised by Kerala State Industrial Development Corporation (KSIDC) and the Department of Industries and Commerce here.

The master plan, which is in its final stage, will strategise utilisation of the port for the advantage of various sectors including medical devices, electronics and manufacturing sectors, he said.

The conclave brought around 282 entrepreneurs, who have invested more than rupees five crore each in the state over the last three years. Responding to a query about the solar energy sector, the minister said the government is reimbursing 25 per cent of the amount for purchasing equipment, besides an incentive of up to Rs 25 lakh being provided to priority sectors identified in the Industrial Policy 2023.

Referring to issues in each sector, Rajeeve said the state government has planned an International Roundtable series on 12 sectors. The first in the series on robotics will be held on August 24 in Kochi. Investors, researchers and startups will feature in the International Robotics Roundtable, he said.

Meanwhile, the minister said Kerala will announce an entrepreneurship index to reveal the status of industries and investment potential in all its 14 districts. He said it would be a pioneering effort by any state in the country. The proposed move will bring about rankings based on investment in all districts of the state, he told the conclave.

Based on the investor-friendly pointers, the index will throw light on which district leads in what sector and the job opportunities they provide, the minister told the gathering of 282 investors. "We have modelled this on the health index of our state," he said.

Pointing out that Kerala has the lowest rate of industry failures in the country, Rajeeve said the figure in the state stood at 15 per cent, which was half of the national average. The upcoming entrepreneurship index will reveal at one glance the kind of industries that will suit the districts, he said.

"The next two years will be of investments." "To ensure its success we will organise investment events from the panchayat level in September and October. They will reveal not just the investment potential of each regions, but the outlook of the authorities towards industry," the minister said.

Source -PTI