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Reliance Communications has made full repayment of two loans amounting to $1 billion (around Rs 6,000 crore), during the quarter ended June 30.The repayments have been from the company's rupee resources.

Business News

Kerala promises single window clearance to lure investors

Saturday - Apr 21, 2012, 07:52pm (GMT+5.5)
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New Delhi -  To bag big ticket investments to propel its economy, the government of Kerala has promised single-window clearance, lucrative returns and durable partnerships to Indian industries and global corporations.

Announcing this at a meeting with captains of industry Friday evening, Chief Minister Oommen Chandy said: "There are opportunities galore for investors from all parts of the world to invest in Kerala and ensure its sustainable economic growth."

Earlier in the day, Chandy met top diplomats, heads of multilateral agencies and chiefs of trade missions and told them that Kerala is ready for investment. "We want to send out a message to the world that investment is welcome."

The chief minister said his government had listed 12 priority areas for investment. These include IT and IT enabled services, tourism, healthcare, trade and retailing, logistics, food and agro-processing, gems and jewellery, ports and ship building.

The Kerala government will host a conclave, Emerging Kerala Global Connect, in Kochi from Sep 12-14.

Kerala Industries and IT Minister P.K. Kunhalikutty said that public private partnership would be the mode for all mega projects proposed in the state.

"The state has already demonstrated its strength in areas like tourism, healthcare, IT and ITES, logistics, food and agro-processing and gem and jewellery. We have now decided to promote the manufacturing and service sectors in an eco-friendly manner," he said.

The meeting organised by Confederation of Indian Industry (CII) was attended by representatives of a number of top-notch companies from both the public and private sectors, including SAIL, DRDO, Petronet, Jubilant Energy, Medicity and Fortis.

Some small and medium enterprises which attended the meeting showed keen interest in setting up their ventures in areas like renewable energy.

Kerala plans to develop the country's first high-speed rail corridor. Almost $20 billion investment will be required for the proposed corridor that will run from Thiruvananthapuram to Mangalore.

The state, which has a 600 km-long coast line, is developing an international container trans-shipment terminal at Kochi. It is also developing natural gas pipeline infrastructure and airports in several cities.


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