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Pinarayi Vijayan is on a major mission to overhaul Kerala’s economy

He is using his influence on business leaders from Kerala to attract more investors, create jobs and boost manufacturing.

During his visit to Europe, Pinarayi Vijayan has called on major global industrial leaders to talk about his plans for upgrading Kerala’s infrastructure and economy. The public perception about this leader has changed ever since the 2018 deluge that shattered the state. Pinarayi Vijayan’s bold stand and views during the crisis gave the people confidence to vote him back to power again.

As the present LDF government has completed its half term, there is an urgency to change negative perceptions about the state’s economy. Think tanks aiding Pinarayi Vijayan seemed to have communicated him that the state of the economy is voters’ number-one concern. The recent surge in inflation, which of course the state is blaming the Centre for, shows no sign of dissipation.

The first round of Pinarayi Vijayan’s development agenda, built on K-Rail, has fallen flat. Also there are whispers in the power corridors that on the economic front, Pinarayi Vijayan’s first two years in the Capital have been a missed opportunity or a failure.

Except for food packages and welfare pensions, people haven’t seen much from the government. So now his intention is sweeping: to foster manufacturing, succour the middle class and boost the economy. But the challenge for him is big.

For decades, industrial leaders in the country were highly sceptical about state’s investment climate and they believed that the industrial policy was inefficient and self-defeating. So much now depends on how Pinarayi Vijayan is tackling the issues back home.

Already, the CPM has given a free hand to Pinarayi Vijayan to pursue an industrial policy of his choice so that the party stands a chance for a third consecutive innings.

Though it is an ambitious agenda, if succeeds, will change Kerala dramatically.

Green energy investments

Some of the talks initiated by Pinarayi Vijayan government on green energy investments will provide incentives for the manufacturing sector in the state. Pinarayi Vijayan is especially focused on investments on clean energy and Information Technology. Now that said, the various subsidies and incentives will be integral to attracting businesses to Kerala competing with states like Karnataka, Telangana & Tamil Nadu.

The LDF government believes that the investments on these verticals will help generate both a bigger pool of skilled workers and a bigger supply of well-paid jobs. Even if the change is only marginal, a few high-profile investments in the rustbelt will offer voters a glimmer of hope.

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