‘Reimagining Keralam’, an initiative by the State government of Kerala to create concrete implementation roadmaps for 73 major projects announced in this year’s State Budget, featured a series of Round Table Conferences to evolve a framework for fast-tracking the projects.

At a recent ‘Pravasi Partnership’ session arranged under the banner, NRI entrepreneurs, NORKA (Non-Resident Keralites Affairs) officials, and investment experts participated.

Anjana M., Special Secretary, NORKA, who chaired the session, said that Kerala received remittances around Rs. 2.17 lakh crore every year and held nearly Rs. 3 lakh crore in non-resident deposits, where most of the money flowed into land, housing and loan repayment.

“We do not lack capital; but we don’t have a credible and governed channel through which a small share of it can be invested at home,” she said.

Many other participants shared her view of Kerala connecting with India’s existing global business corridor while also attracting investors on its own.

M. Abdul Karim of IBPC Dubai said, “Any product introduced for NRIs must be capital-secured, allowing flexibility for withdrawal at any time. It should offer returns better than bank deposits. Kerala needs to present an investable proposition built on credible assets, scale, professional governance, predictable execution and exit feasibility.”

The participants urged the State government to engage more actively with Indian embassies abroad, besides encouraging the participation of industry chambers such as the CII, FICCI, NASSCOM, ASSOCHAM, TPCI, and FIEO.

Asif K. Yusuf, Director, NORKA Department, and Rajesh Madhavan, CEO, NORKA, were present. – editor@nrifocus.com