The Hindu : Projects worth Rs. 31,000 cr. for GIM

Online edition of India's National Newspaper
Sunday, Jan 12, 2003

Southern States

Southern States - Kerala

Projects worth Rs. 31,000 cr. for GIM

By Our Special Correspondent

THIRUVANANTHAPURAM JAN. 11. The Kerala Government would showcase projects having a total estimated outlay of Rs. 31,000 crores at the Global Investors Meet (GIM) to be held in Kochi on January 18 and 19, the Industries Minister, P. K. Kunhalikutty, said here today.

Participating in a Meet-the-Press programme organised by the Kesari Memorial Journalists Trust, the Industries Minister said the schemes to be put forward by potential investors at the GIM would be in addition to those drawn up by the Government.

Several major industrial groups in the country besides ambassadors, members of royal families in some of the West Asian countries and representatives of the chambers of industries and commerce from the U.S., Singapore and Malaysia, were expected to participate in the meet, he said.

When pointed out that such mega investor meets organised by States such as Karnataka and West Bengal had not resulted in investment commensurate with the hype, Mr. Kunhalikutty quipped that one had to hitch one's wagon to the star to reach at least the moon.

While it was true that all the project proposals being showcased at the meet would not be acted upon, it would result in substantive investment that would get the State economy moving, he said.

The Government, the Industries Minister said, was happy that none of the political parties in the State had adopted a negative stand towards the meet.

Even those who had expressed misgivings about the meet had taken care to point out that they welcomed fresh industrial investment in the State.

The Government also did not wish to take the entire credit for whatever was achieved through GIM and would be ready to have discussions with anyone on the investment proposals to be discussed at the meet, he said.

Asked how soon the Government expected returns from the meet, Mr. Kunhalikutty said the immediate benefit would be a change in Kerala's image as an investor-unfriendly State.

Specific projects might take one to two years or even 25 years to materialise.

If the meet resulted in substantive investment, it would result in considerable increase in employment opportunities in the State.

The Government had to show the determination for change.

It could not go on with conventional attitudes or hollow promises to the people, he said.

The Industries Minister sought to allay fears that GIM and other similar initiatives would result in neglect of the traditional industrial sector and said the Government was firm that the traditional sector as also the primary sector should receive support.

Once the Government relieved itself of its conventional industrial commitments, it would be able to better assist the traditional sector.

The UDF Government had, in fact, given a higher sum as assistance for the traditional sector than any of its predecessors, he said.

Expressing his unhappiness about the shelving of the Kochi industrial water supply scheme, Mr. Kunhalikutty said if anyone had suspected the opposition to the scheme to be the work of certain vested interests involved in the supply of drinking water in barges and lorries, one could not fault them.

Water scarcity in the city was so acute that the very survival of the people living in the city area could become problematic.

On its part, the Government was particular that every project being taken up at GIM should be evaluated keenly to assess its environmental impact and no procedure should be bypassed, he added.

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