Kerala inks EOIs worth USD 14 billion at World Economic Forum: Rajeev

Kerala Industries Minister P Rajeev revealed that the state has secured Expressions of Interest (EOIs) worth over USD 14 billion at the World Economic Forum in Davos, with MoUs signed for investment in medical, renewable energy, and electronics.

Kerala Secures USD 14 Billion in Investment EOIs at Davos

Kerala Industries Minister P Rajeev on Saturday said that the state government has signed Expressions of Interest (EOIs) worth USD 14 billion at the World Economic Forum in Davos, Switzerland.

Speaking to reporters after his return from Davos, Rajeev said that the state government focused on signing EOIs after showcasing its potential last year. Calling it a "good start," he said that the government has signed MoUs for investment in medical, renewable energy, pharmaceuticals, and the electronics sectors. He said, "We signed Expressions of Interest (EOIs) worth more than USD 14 billion. This is the second time an official delegation has participated in the World Economic Forum. Last time, we focused on showcasing the potential of Kerala. This time, we are focusing on signing EOIs. This is a good start."

"We have signed MoUs regarding investments in the medical devices industry, renewable energy, pharmaceuticals, and the electronics sector. This is a good beginning for the state of Kerala. Following this, we will constitute a special mechanism for the proper follow-up of materialisation of these EOIs," the Kerala minister said.

Strategic Shift from Showcasing to Signing

On Friday, speaking on the sidelines of the annual global meet, which was held from January 19 to 23, Rajeev said Kerala engaged with more than 60 investors and potential investors, marking a shift in strategy from previous editions of the forum. "We met more than 60 investors, potential investors. Last time we didn't focus on EOUs, LOUs or MOUs. That time, we tried our best to showcase the potential of the State of Kerala. This time, we are focusing on EOUs. We could sign more than 14 billion US dollar EOUs proposals," the minister said.

Focus on Knowledge-Based Industries

He added that the bulk of the proposals were in sectors such as renewable energy, artificial intelligence, data centres, medical devices, electronics manufacturing, wellness centres, and other knowledge-driven industries. "Most of them belong to renewable energy and AI, data centre, medical device, electronics industry and also wellness centre, all knowledge-based industries. We are engaging offices for each and every EOUs, and I think we could materialise most of them into reality," Rajeev noted.

Aiming for Global Capability Centre Hub Status

Highlighting Kerala's ambition to emerge as a major hub for Global Capability Centres (GCCs), the minister said the state's skilled workforce gives it a competitive edge. (ANI)

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