Chief Minister Pinarayi Vijayan on Thursday unveiled a set of initiatives that will further enhance the ease of doing business in Kerala, including a wage subsidy scheme for the first five years for new ventures getting registered from April 1, 2020 under which women workers will get at least Rs 2,000 more than men.
Pitching Kerala as an ideal destination where investment can be made in diverse sectors, he claimed that the investment ecosystem prevailing in the state is one of the best in the country.
Inaugurating the two-day ASCEND Kerala 2020 global investors meet here, showcasing over 100 major projects before industry leaders, Vijayan said the government was committed to carrying on with its policy initiatives to simplify investment procedures.
"The investment climate prevailing in the state is most conducive. This is especially significant at a time when certain parts of the country and the world are in the grip of tension and anxiety.
Here is an ideal destination where investment can be made in diverse sectors without having any tension or anxiety," the chief minister said.
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Recalling a string of legislative and procedural initiatives put in place by the state government, the chief minister said many more such measures are on the anvil to enable a fast, transparent and corruption-free investment regime.
"A proposal to subsidise part of the wage commitment of newly set up industries for the first five years is planned. This is a scheme under consideration. I don't want to go into its details.
This benefit will be available only to those units which provide ESI and PF benefits to workers. I also want to say at this stage that women employees will get at least Rs 2,000 more than their men counterparts under the proposed scheme," he said.
An estimated 37 lakh people will benefit, according to Vijayan.
Seeking to remove land constraints faced by big units, he said the 15-acre ceiling on the land to be held by them will be relaxed.
Units investing more that Rs 250 crore and providing over 1000 jobs will be entitled to this concession.Necessary changes will be made in the land legislation act to enable this, Vijayan said.
The ceiling for financial aid from the Kerala Industrial Development Corporation (KSIDC) will be raised from the current Rs 35 crore to Rs 100 crore.
In certain cases, KSIDC can also provide higher amount, the chief minister said.
Measures will also be taken to ensure greater involvement of local bodies in industrial promotion and job generation, he said.
Steps are also afoot to improve labour relations to ensure smooth functioning of units right from the start and improve technical capabilities and skilled workforce, he added.
"Though a small state, we have several inherent strengths that make us different, including our natural assets and highly qualified human resource.
Now is the time to properly leverage them to bring in substantial investment, which is essential to generate income and employment for the present and future generations," he said.
He also lauded the contributions of the Malayali diaspora in expediting the state's economic development.
Vijayan said a proposal to convene a global meet to attract foreign investment is on the cards, adding that visits of delegations led by him to Japan, Korea and the UAE had generated keen interest in Kerala.
The meet is being organised by the state's Department of Industries.
A coffee table book on the state infrastructure development agency KINFRA was released by the chief minister.
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