Davos WEF Great interest expressed by companies for investing in Kerala P Rajeeve

Thiruvananthapuram, Jan 28 (PTI) Kerala's Green Hydrogen Cluster project has been recognized as the first project among the 13 leading global industrial cluster projects for its efforts to decarbonise by the World Economic Forum, state Industries and Law minister P Rajeeve said on Tuesday.


Addressing media on the sidelines of the Vizhinjam Conclave, along with the other delegates who represented Kerala at the recently concluded World Economic Forum at Davos, Rajeeve said the Kerala pavilion and the state grabbed wide attention from the investors and many global players expressed their interest to invest in Kerala.



He said the Kerala Hydrogen Cluster programme was designed to reduce greenhouse gas emissions across sectors, especially in the transportation sector that accounted for nearly 50 per cent of the state's CO2 emissions.



The project is evaluating proposals worth USD 1.2 billion, the minister said.



"It is a great achievement that we got listed as the first project by WEF and it shows that if we work together, Kerala can bring in the best investments to the country," Rajeeve said.



The Kerala Green Hydrogen Valley project, one of the 13 leading industrial clusters, was recognised globally at the 55th annual meeting of World Economic Forum for their efforts to decarbonise, according to a Kerala State Industrial Development Corporation (KSIDC) release.



These projects span countries like Australia, Brazil, Colombia, India, the Netherlands, Saudi Arabia, Sweden, Thailand, and the United Kingdom, it added.



It further said that the state’s efforts are well-aligned with India’s National Green Hydrogen Mission, which aims to produce five million tonnes of green hydrogen annually by 2030.



The minister said Kerala's delegation to Davos was viewed seriously by the investors as it included Chief Secretary, Indistries Secretary and Principal Secretary to the government along with himself.



Rajeeve, who held over 70 one-to-one meetings with industry honchos at Davos, said many of them showed keen interest in making investments in the state, and are expected to turn up for the Invest Kerala Global Summit 2025 (IKGS 2025) in Kochi.



"Even Andhra Pradesh Chief Minister Chandra Babu Naidu in a joint press conference in Davos said that Kerala is the best state for investments in the country and urged everyone to congratulate the state for bringing its models at Davos," he said.



He said several global companies have expressed their interests and the total amounts of their investment would be revealed by February 21 or 22.



"We considered the visit to Davos as a roadshow for the Invest Kerala Summit that will be held on Feb 21 and 22 in Kochi," Rajeeve added.



In the short term, the Valley anticipates an investment activity of around USD 30 million, according to the release.



Kerala has prioritised 22 sectors, as per its renewed industrial policy, keeping out all polluting and hazardous industries out of the block, he said, adding that companies were keener to invest in logistics, medical technology, food processing, maritime and renewable energy segments.



The state delegation hosted panel discussions on deep tech, biotechnology, and e-governance at the India Pavilion, besides sharing the state’s experience at four other panel discussions, the release said.



These discussions brought to focus Kerala’s significant contributions to India's initiatives in deep-tech innovation, particularly in healthcare, space technology, and Artificial Intelligence, it said.



The Chief Ministers from other states who were present appreciated the way Kerala changed the script and went on to become the top ranker in Ease of Doing Business (EoDB), it added.



"The industrial development model being pursued by the state was appreciated by the participants at WEF as it emphasises on sustaining economic growth by adopting responsible and inclusive practices in a world confronted with grim challenges including the consequences of climate change," the release said.

(This story has not been edited by THE WEEK and is auto-generated from PTI)