Kerala - Thiruvananthapuram   

Trade promotion bureau mooted

Special Correspondent

Move to attract private investments to the State

THIRUVANANTHAPURAM: Setting up of a Kerala Trade Promotion Bureau and formulation of an industrial infrastructure policy have been suggested for developing trade and luring investors to the State.

A four-member committee led by additional industries director K. Madanan, which studied the industrial promotion activities in Karanataka and Tamil Nadu, had recommended setting up of the bureau on the lines of the Kerala Bureau of Industrial Promotion for organising trade fairs, buyer-seller meets and tap export possibilities within the country and abroad.

Considering the constraints of the State, due accent should be laid on attracting private investments in industrial infrastructure, which is the key for industrial development.

The Industries Directorate should draw up an action plan for strengthening the 14 mini industrial estate cooperative societies and set up more estates with the assistance of cooperative banks and NABARD under the rural infrastructure development scheme.

Trade hub

More attention should be given for developing commerce and the trade sector by capitalising the traditional skills, infusion of technologies, capital and innovative marketing practices. The State should be developed as a trade hub of tourism in South Asia for galvanising the service and manufacturing sectors.

The committee felt that everywhere outside the State, there was a negative propaganda about the investment milieu, especially about the conduct of trade unions and labour scenario.

The Government should launch a drive projecting the investment potential involving captains of industries in the State, trade union leaders and Non-Resident Indians, especially Keralites, to allay the inhibitions of potential investors.

The ceiling for investment subsidy for small-scale industries should be raised from Rs.5 lakh to Rs.15 lakh for the units to be set up during the next five years.

The upper limit of the subsidy for large and medium industries should be fixed at Rs.25 lakh in general. Prime importance should be given for the promotion and development of the service sector.

Review negative list

The present policy of including the service sector in the negative list should be reviewed to attract more investments.

The Government should give more importance for agro industries and agro food industry.

A new scheme should be introduced to cover these industries, marine foods, herbal and ayurveda products. The scheme should be implemented in all blocks, except municipalities and corporations.

A State-level technology information committee should be formed to identify projects, to disseminate technology to the entrepreneurs and give technical advice.

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