The Hindu : GIM: time-bound follow-up planned

Online edition of India's National Newspaper
Saturday, Jan 18, 2003

Southern States

Southern States - Kerala

GIM: time-bound follow-up planned

By Our Special Correspondent

KOCHI Jan. 17. The Government is contemplating a system to effect time-bound follow-up on the projects for which some sort of broad understanding is reached at the Global Investors Meet(GIM), said the Industries and IT Minister, P.K. Kunhalikutty, here today.

Talking to reporters on the eve of the GIM here today, the Minister said that except those projects which involved major policy issues and those requiring to be placed before the Single Window Clearance Board, others for which MoUs are signed would be discussed with the political parties and placed before the Cabinet for a final decision. The idea is to expedite the process of industrialisation and to make the State investor-friendly without the usual bureaucratic and other hassles. As per the norms of the Single Window Clearance Board, all projects which have been cleared could be initialised within 45 days.

Answering a query, he said that prospective investors can also bring projects of their own at the two-day meet to be inaugurated by the Prime Minister. He cited the example of the Kerala-based Nest group president, Jawad Hassan, who had met him this morning evincing interest in submitting projects worth Rs.3,000 crores at the GIM. Asked whether projects like the Express Highway and `super port', which require government land and property to be handed over to the investors for development, would be implemented without calling for global tenders, the Minister said the signing of MoUs was only the beginning and other factors would have to be worked out in detail. "The first thing is that we should welcome the investors and let it be known that Kerala has a conducive investment climate.''

He was sure that under the leadership of the Chief Minister, A.K. Antony, Kerala can project an image of a State with infinite investment opportunities. The quick response from the software major, Infosys, after the CM's visit to Bangalore should be an eye-opener and should result in a change in the mindset of the people of the State, he said.

The managing director of the KSIDC, Jiji Thomson, who was present at the press conference said that 850 delegates, including 276 from foreign countries, were expected at the GIM. The chairman of KSIDC, KT K A Nair, the Finance Principal Secretary, Sudha Pillai, the Industries Principal Secretary, John Mathai, and Industries Secretary, Ajay Kumar, were also present.

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