Minister interacts with investors at ‘Conclave on Continuing Investments’

 Kochi: The state government is preparing a comprehensive master plan for leveraging the full potential of Vizhinjam Port to the benefit of various sectors, Minister for Industries, Law and Coir Shri P. Rajeeve said today.

Shri Rajeeve was interacting with investors at the day-long ‘Conclave on Continuing Investments,’ organised by Kerala State Industrial Development Corporation (KSIDC) and the Department of Industries & Commerce here.

The master plan, which is in its final stage, will strategize utilization of the Port for the advantage of various sectors including medical devices, electronics and manufacturing sectors, Shri Rajeeve said.

The conclave brought around 282 entrepreneurs, who have invested more than Rs. 5 crore each in the state over the last three years. 

Responding to a query about solar energy sector, Shri Rajeeve said the government is reimbursing 25 percent of the amount for purchasing equipment, besides an incentive of up to Rs 25 lakh is being provided to priority sectors identified in the Industrial Policy 2023.  

Referring to issues in each sector, Shri Rajeeve said the state government has planned International Roundtable series on 12 sectors. The first in the series on robotics will be held on August 24 in Kochi. Investors, researchers and startups will feature in the International Robotics Roundtable.

Investors representing various sectors expressed their views regarding the initiatives of KSIDC and recalled the support of the government in setting up their enterprises.

In another session on sharing the experience of major investors, Shri Aju Jacob, Director, Synthite, said it is inevitable to adopt technology and leverage its innovative possibilities in entrepreneurship.

“As Kerala is making efforts to become a knowledge economy, it requires investments of that kind. Besides, products should have a global standard and appeal,” he noted.

Shri V K C Razzak, Managing Director, VKC Group and Director of KSIDC, said enterprises should not be set up by expecting subsidies alone. According to him, the subsidies from the government must be seen as an additional aid for establishing the venture.  Shri Razzak said VKC has its presence in eight other states but in Kerala is where the company gets sufficient respect and support. 

Shri Sreenath Vishnu, Vice Chairman, VNG Group, said the primary task in a venture is to effectively deliver the products to consumers. “As an entrepreneur, one has to start with a small scale venture. He can increase investment and size of the venture based on the support from the market,” he observed. 

Shri Ajay George Varghese, CEO & Managing Director, Bipha Drug Laboratories, said the most important thing for an entrepreneur is to transform challenges into possibilities. He added that the hurdles in the path of an enterprise may make way for new ideas and traditions.