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CII hails emphasis on pvt investment in Kerala Budget

Our Bureau

KOCHI, July 13

THE Confederation of Indian Industry, Southern Region, has welcomed the emphasis being given on private investment in the Kerala Budget, saying that the Government has finally realised the rapid growth of industries in the neighbouring States through pri vate participation.

For private investment, the Government has to bring out guidelines and terms of reference which is more investor-friendly than the neighbouring States. This is the only option with the Government for getting substantial investment into the State, a press release issued here said.

The decision of the Government in enacting legislation to protect the investors and households from the unfair labour practices was appreciable.

This legislation was expected to make Kerala an investor-friendly State by dispelling the feeling of insecurity perceived by many potential investors in the State and outside. The CII felt that this legislation should be brought out at the earliest.

The CII urged the Government to constitute a cell to study the problems of the SSI sector in the wake of the present WTO regime and provide special attention for the growth of small scale industries.

The contribution of SSI's to the growth rate in industrial scenario was 9 per cent on a national level and the contribution of exports is more than 50 per cent. Considering this, Kerala should encourage small industries in a big way.