Private investments are the key to Kerala’s economic growth, says Kalyan Silks Chairman T. S. Pattabhiraman. Speaking at the Invest Kerala summit, he shared his views with Channeliam.com founder Nisha Krishnan on the state’s evolving business landscape.
The Need for Change in Kerala’s Business Environment
Pattabhiraman emphasized that while government initiatives and support are essential, private investments are what truly sustain businesses. He highlighted that Kerala’s future growth depends on self-sufficiency, making private participation crucial for long-term economic stability.
Favorable Business Climate in Kerala
Kerala has undergone a significant transformation in its business environment. The state has not witnessed major strikes or shutdowns for several years, creating a stable atmosphere for entrepreneurs. Additionally, the government’s licensing processes have become more productive, making it easier for businesses to establish and expand.
Importance of Invest Kerala Summit
The Invest Kerala summit represents a major step forward for business-friendly policies in the state. It has brought together industry leaders and policymakers to discuss ways to enhance investment opportunities, proving that Kerala is ready for large-scale business developments.
Encouraging New Investments
To attract more investors, Pattabhiraman suggested that the government consider offering incentives such as tax rebates for the first three years of a new business. Such measures can encourage more entrepreneurs to set up operations in Kerala and boost the state’s economy.
A Positive Shift in Kerala’s Business Mindset
Pattabhiraman pointed out that Kerala’s workforce has evolved significantly. Unlike in the past, businesses now operate without the fear of frequent labor strikes. The positive shift in the business mindset, along with government support, is creating an environment where more entrepreneurs are willing to invest and grow their ventures in the state.
