Kerala primed to become Global Capacity Centre destination: CM

At Huddle Global 2024 inauguration, CM asks international investors and global companies to consider State as a key player in the future of business, technology and innovation

Aimed at positioning Kerala as a leading hub for global business and technology innovation, Chief Minister Pinarayi Vijayan has pitched the State as the next big Global Capability Centre destination.

Highlighting Kerala’s rapid growth as a start-up ecosystem and its high-quality infrastructure, he also called on international investors and global companies to consider the State as a key player in the future of business, technology and innovation.

The Chief Minister elaborated on the State’s ambitions to leverage its unique strengths in technology, talent and sustainability to attract investments while inaugurating the three-day Huddle Global 2024, the flagship start-up festival organised by the Kerala Startup Mission (KSUM) at Kovalam on Thursday.

The State’s flourishing start-up ecosystem, which was home to over 6,100 start-ups, had already drawn significant attention from both Indian and international investors, Mr. Vijayan pointed out, citing Kerala’s recent recognition as the top performing State in the Department for Promotion of Industry and Internal Trade (DPIIT) State’s Start-up Ranking as a strong endorsement of the State’s growing importance as a global business landscape.

He attributed the State’s success in building a robust start-up ecosystem to its strategic location, world-class infrastructure, and a well-educated workforce. The State also aimed at becoming an Emerging Technology Hub (ETH) with focus on five specific sectors—agriculture; space technology; renewable energy; digital media and entertainment; and health care and life sciences. The ETH initiative was envisaged as a PPP company on a three-acre campus at Technocity at ₹350 crore, he said.

Besides, its commitment to education, innovation and research was exemplified by initiatives such as Innovation, Entrepreneurship and Development Centres (IEDCs) and Local Entrepreneurship Advancement Programme (LEAP), which aimed at nurturing talent and fostering innovation in educational institutions.

Growth with equity

Delivering the presidential address, Chief Secretary Sarada Muraleedharan emphasised the State’s commitment to fostering inclusive growth and innovation in its rapidly evolving start-up ecosystem. The growth in Kerala, she pointed out, should not be measured solely in economic terms, but also by its ability to foster social enterprises that could drive positive change. Growth with equity was the core philosophy that drove Kerala’s development strategy, she added.

With the State’s focus on deep tech, artificial intelligence, machine learning, and even more advanced fields such as quantum computing and photonics, Ms. Muraleedharan stressed the need for stronger support systems to transition innovations into successful products and businesses.

Electronics and IT Secretary Rathan U. Kelkar, Infosys co-founder and vice-chairman of the government’s high-power IT committee S.D. Shibulal, and NABARD chairman Shaji K.V. were among those present. KSUM exchanged memorandums of understanding (MOUs) with various companies on the occasion.

Published - November 28, 2024 08:27 pm IST