The Hindu : Govt. puts GIM back on course

Online edition of India's National Newspaper
Tuesday, Jan 07, 2003

Southern States

Southern States - Kerala-Thiruvananthapuram

Govt. puts GIM back on course

By Our Special Correspondent

THIRUVANANTHAPURAM Jan. 6. The UDF Government has succeeded in putting the Global Investors' Meet (GIM) back on its proper course leaving behind the temporary confusion over the nature of the various projects prepared in connection with the prestigious event slated for January 18.

Somewhere during the course of the controversy's roller-coaster ride, the real aims of GIM appear to have been lost. The GIM is not an end in itself and has not been conceived as a one-time meet with investors. Just as the preliminary road shows, a series of follow up measures, including one-to-one meetings on a continuing basis, would be required before a final decision is taken on the project.

The GIM is also considered as the Government's resolve to balance the State's pre-dominantly remittance-consumption-welfare economy with a long over due investment-employment mode. In other words, the GIM is the first step towards growth with jobs, and an end to decades of low investments, in which entrepreneurs from Kerala, India and outside totally bypassed the State and labour and industry migrated from the State.

It has been designed to create a climate favourable for investments. The GIM has sought to persuade entrepreneurs from Kerala, resident and non-resident, to invest in the State. The main aim is to make them feel that they are wanted in a context where Keralites work outside the State and Kerala entrepreneurs such as MRF and BPL invest outside the State.

It is an attempt to encourage the Kerala entrepreneurs to invest first in their State like the Chettiars, TVS, and Sivaswamys did in Tamil Nadu and the Pais, Mallyas, and Narayanamurthys did in Karnataka, before they grew wings. Unfortunately, entrepreneurs from Kerala have always been left with the feeling that they were not wanted here. It is also intended to attract investors from India and abroad. The Industries Minister, P.K. Kunahlikutty, has said time and again that GIM is not intended to present a set of approved projects and get them accepted by investors. The project proposals are being presented as examples on which work has been done and it is for the investors to naturally take their own decisions.

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