Kerala Finance Minister KN Balagopal’s initiative to position the state as an investment-friendly state is a promising step, according to Adeeb Ahamed, Managing Director of LuLu Financial Holdings.

Ahamed hailed proposed Development Zones, highlighted in the 2024-25 budget, as a noteworthy strategy to attract expatriates and private investors to contribute to development projects across the state. This move would be instrumental in creating a conducive environment for investment, thereby fostering economic growth and overall state development.

Development Zones

Furthermore, the budget has emphasised the significance of collaborating with the private sector to formulate innovative development models, thus playing a pivotal role in expediting the growth of the state’s industrial sector. Involvement of private investors in state projects is a catalyst for fostering innovation and progress in the industrial landscape, Ahamed said.

Moreover, the proposed a global investment forum aligns seamlessly with the broader strategy of attracting international investments to Kerala. Such forums serve as vital platforms for showcasing investment opportunities and establishing partnerships, significantly contributing to the state’s economic and sustainable development.

Kerala’s promotion as a medical hub also holds great promise for further advancements in this field. This not only positions the state as a hub for healthcare but also signals potential opportunities for growth and innovation. According to Ahamed, the budget reveals an optimistic outlook overall, particularly in terms of attracting investments and fostering collaboration with the private sector, to position the state as a hub for both industry and healthcare.