Kerala Signs USD 14 Billion EOIs at World Economic Forum

Kerala Industries Minister P Rajeev announced the signing of USD 14 billion in Expressions of Interest at the World Economic Forum in Davos. Targeting investments in medical devices, renewable energy, and more, the state aims to become a hub for Global Capability Centres with a skilled workforce advantage.

In a major development, Kerala Industries Minister P Rajeev announced on Saturday that the state has secured Expressions of Interest (EOIs) worth USD 14 billion at the World Economic Forum held in Davos, Switzerland. The move follows last year's focus on showcasing Kerala's potential.

Minister Rajeev described the deal as a "good start," highlighting signed Memoranda of Understanding (MoUs) concerning investments in diverse sectors, such as medical, renewable energy, pharmaceuticals, and electronics. A special mechanism will be set up to ensure that these EOIs are brought to fruition.

During the annual global meet from January 19 to 23, Kerala engaged with over 60 investors. This strategy shift emphasizes EOIs over the previous focus on state potential. Predominant proposals span renewable energy, AI, data centres, and electronics, illustrating Kerala's intent to establish itself as a Global Capability Centre hub, leveraging its skilled workforce.

(With inputs from agencies.)