While presenting his maiden Budget, Kerala Chief Minister V.D. Satheesan called upon NRIs to invest more in the State, saying their remittances had boosted Kerala’s living standards significantly over the years.

He said, the government will establish an Investment Trust Fund to facilitate Kerala’s transition from a ‘remittance-based economy’ to an ‘investment-based economy’.

“Mere remittances will no longer suffice for Kerala’s future development. NRIs must evolve into investors, entrepreneurs, and knowledge partners. NRIs have the potential to make collective investments in startups, tourism, agricultural value-added enterprises, the health sector, and educational institutions,” he said.

In order to attract investment from NRIs, Kerala plans to ease regulations and unlock its ‘land bank’ to foster development in important sectors such as aviation, logistics, and shipping.

The State’s vision of a ‘New Age Kerala’, focussing on inclusive growth and sustainable infrastructure, is expected to draw the attention of NRIs whose contribution to ‘God’s own country’ has been remarkable.

The chief minister highlighted the fact that his government was ambitious about positioning Kerala as a key player in the global maritime sector within five years, making the best of the State’s 600-kilometre coastline.

He also outlined plans to develop Kerala as an aviation and logistics hub pegging around its four international airports. – editor@nrifocus.com