Keralam to be transformed from remittance economy to investment economy, says CM V.D. Satheesan
Kerala Chief Minister V.D. Satheesan announced plans to transition the state's economy from a remittance-based model to an investment-driven one. The government intends to amend outdated laws and align higher education with global job market trends to spur growth.
Why it matters
This represents a major structural economic pivot for a state historically dependent on foreign remittances, aiming for long-term industrial sustainability.
Keralam will be transformed from a remittance economy into an investment economy, Chief Minister V.D. Satheesan has said.
Inaugurating the three-day ‘Reimagining Keralam’ roundtable conference organised by the Kerala State Industrial Development Corporation (KSIDC) on the State’s flagship development projects, he said that the government has prepared various models suitable for the changing investment landscape to spur the State’s economic growth.
“Though we talk about a single-window system for approvals, this has not been very effective. The government is taking up law reforms in various sectors, including agriculture, education, revenue and sports. Many of these laws are outdated and are a roadblock to taking forward projects and investment proposals. As many as 19 laws will be amended by October,” he said.
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