Abu Dhabi: The south Indian state of Kerala is trying to cash in on the reputation of its people, who constitute the largest Indian community in the UAE, to seek foreign investments for its ambitious megaprojects which include a 650km high-speed railway, an official of the state delegation visiting the UAE said on Sunday.
Highly educated and skilled Keralites are everywhere in the world, including the UAE, and have acquired a very good reputation, according to V. Somasundaran, Additional Chief Secretary in charge of Industries and Commerce in the Kerala state government.
A prominent Indian businessman said when India’s economy was opened to foreign investments in 1991, they were advised to take their Emirati business partners to India to look into opportunities there.
“They said it would be beneficial to both Indians and Emiratis to strengthen their existing relationships,” said Mohan Jashanmal, the chairman of Indian Business and Professional Group, Abu Dhabi.
The group hosted an event on Sunday evening for two senior Kerala government officials who presented the projects to be unveiled in ‘Emerging Kerala’. It is a global networking programme designed to bring together people from all walks of life who are interested in investing in the state.
The tender for the proposed projects will be ready at the ‘Emerging Kerala’, said Alkesh Sharma, Managing Director of Kerala State Industrial Development Corporation. The event will be held at Kochi, the city known as the commercial and industrial hub of the state, from September 12 to 14.
The Kerala government has identified 26 thrust sectors to be presented before the investors. Of these 10 will be core sectors.
Among the 10 core projects, the high speed railway will be the first of its kind in South Asia, they said.
The corridor linking Thiruvananthapuram, the capital of the state in the southernmost part, to Kasargode, the northernmost city, will be independent of the existing 1,148km railway lines on 13 routes in the state, they said.
The first phase of the project connecting Thiruvananthapuram and Kochi, will cost Rs45 billion (Dh2.97 billion).
Kochi Metro, a world-class Light Mass Rapid Transit System in Kochi City, of Rs450 billion and monorail projects at Thiruvananthapuram (of Rs34.08 billion and Kozhikode (of Rs15 billion) are also part of the ambitious infrastructure projects.
The officials said the government has set up an online single-window clearance system which facilitates the processing of licences and approvals can be secured within 90 days for investors.
When an Abu Dhabi government official inquired whether the 90-day duration is a long time to get all clearances, Somasundaram said: “It is the maximum time. In most of the cases, the clearance will be given in a shorter time.”
He explained that some projects like that of gas infrastructure need environmental impact assessment and related approvals which require a little time.
