Kerala government to showcase its upgraded investment portal at ASCEND 2020

Our Bureau Kochi | Updated on December 29, 2019

The Kerala government will showcase its upgraded investment portal at the ASCEND 2020 event to be held January 9-10, which will provide all the details required by investors to set up new ventures in the State.

The Invest Kerala Portal – -- is a single window facilitator for hassle-free investment promotion launched under its Ease of Doing Business initiatives.

"The portal is the common repository for land bank details, investor wizard, various services and schemes, and lenders. It is a huge investor-friendly initiative that is designed to address all the queries and concerns of prospective and aspiring investors and includes details about IBPMS (Intelligent Building Plan Management System),” Industries Minister E P Jayarajan said.

Elaborating, the minister said Investment Promotion and Facilitation Cell constituted on behalf of Kerala State Single Window Board would be responsible for smooth interaction with applicants and issuance of speedy approvals.

“Single Window Board has been invested with the power to issue composite clearances that will be binding on all departments/agencies. Deemed licenses can be issued by the respective Boards in cases where the stipulated time period of 30 days has been exceeded. Licences are to be issued for five years and renewal of the same will also be for five years. Renewal will be automatic based on fee payment with no separate application process,” he added.

Organised by Department of Industries, ASCEND 2020 is scheduled for January 9-10 next year at Lulu Bolgatty International Convention Centre.

Jayarajan said allottable industrial land of over 2,000 acres has been developed, while schemes for subsidy and grants for industries being set up in the state have been put in place.

With policies in place, the government has identified priority sectors like Petrochemical, Life Sciences, Electronics, Food processing and Defence as the key drivers of growth in the coming years.

The Kerala government has taken earnest and proactive steps to improve the business environment in the state. “The amendments / modifications made as part of the Ease of Doing Business initiatives and the industrial infrastructure will create an enabling environment for establishing, running and winding up enterprises in the state,” the Minister said.

Published on December 29, 2019

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