Vayalar urges Kerala govt to make state 'investor friendly'

Kochi, Oct 28: Union Minister for Overseas Indian Affairs Vayalar Ravi today said the Kerala government should take initiatives to make the state investment-friendly as it is 'yet to make a mark in attracting Foreign Direct Investment (FDI)'.

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 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 maintained the buoyancy of the state's economy.

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

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

As the impediments for land acquisition existed, the benefits of the project were slowly eroding because of cost escalation, he noted.

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

A balance has to be struck for promoting the traditional business and attracting private capital to the state, he said.

UNI