Months after the Telangana authorities wooed Kerala-based KITEX Garments to put money into the state, the CPI(M)-led Kerala authorities will conduct an “investment roadshow” in Hyderabad on Friday.
An official communication from the Kerala Chief Minister’s Office mentioned a high-level delegation led by Pinarayi Vijayan would meet chosen trade leaders of Telangana in an ‘Investment Roadshow’, which is scheduled to be held at 5 pm at Hotel Park Hyatt.
Members of the Confederation of Indian Industry and CREDAI, and representatives from the IT and pharma industries are attending the roadshow.
Members of Parliament John Brittas and Ayodhya Rami Reddy Alla will handle the delegates.
“Kerala is showcasing the investment opportunities of the state in thrust sectors, and emerging sectors such as bio-technology, information technology, pharma, and other sunrise sectors, before the entrepreneurs. The legislative reforms, digital transformation, simplification of procedures and industrial infrastructure facilitation taken up by the state are also being showcased,” mentioned the official communication.
The delegation will embody State Chief Secretary V P Joy, Principal Secretary (Industries & NORKA) Ok Ellangovan, Director Tourism Krishna Teja Mylavarapu and Kerala State Industrial Development Corporation Executive Director NSK Umesh.
In July final yr, Kochi-based KITEX Garments introduced it was abandoning its proposed funding of Rs 3,500 crore in Kerala as “it was difficult to run the existing units due to the hurdles caused by the government”.
Subsequently, the Telangana authorities invited KITEX to make funding in that state. The Telangana authorities had even despatched a particular flight to Kochi to take the KITEX workforce for discussions.
The group had then introduced a Rs 1,000 crore undertaking in that state, with its managing director Sabu Jacob saying he wouldn’t make investments a single rupee in Kerala.