Ravi urges govt to make state investor friendly

Kochi, Oct 28 (UNI) Union Minister for Overseas Indian Affairs Vayalar Ravi today said the Kerala Government should take initiatives to make the state investment-friendly as the it was 'yet to make a mark in attracting foreign direct investment'.

Addressing a gathering after inaugurating a seminar organised by the Kerala Chamber of Commerce and Industry here, Mr Ravi said the political, economic and social environment of the state were not condusive for the investors.

He said the government should have a positive rather than a dogmatic approach in inviting investment to the state.

Mr Ravi noted that remittance from NRIs especially from those in the Gulf countries maintain the buoyancy of the state's economy.

The main impediment to investment in the state was lack of land, he said.

He said the prestigious Vallarpadam project was suffering because of the delay in providing rail connectivity to the proposed International Transhipment Terminal (ICTT).

As a quagmire for land acquisition exists, the benefits of the project was slowly eroding of the cost escalation, he noted.

He urged the government to give due importance to traditional industries like coir and cashew as it gave more scope for rural employment.

A balancing line should be drawn in promoting the traditional business and attracting private capital to the state, he noted.

UNI MA APA1915