India will soon begin discussions on a trade pact with the United States under the Donald Trump administration, which could potentially be the ‘mother of all deals,’ Commerce and Industry Minister Piyush Goyal announced on Friday. Addressing the Invest Kerala Global Summit, Goyal stated that the proposed agreement would symbolize a robust engagement with the US, offering substantial opportunities for both Indians and Americans to complement each other’s strengths.
Invest Kerala Global Summit
The two-day summit, inaugurated by Kerala Chief Minister Pinarayi Vijayan, was attended by Kerala Industries Minister P Rajeeva, Union Minister for Skill Development Jayant Chaudhary, and Road Transport and Highways Minister Nitin Gadkari, who addressed the gathering via video conferencing. Nearly 3,000 delegates from India and abroad participated in the event.
Expanding Trade Horizons
Goyal highlighted that India is also in talks with the European Union, the United Kingdom, Oman, and other countries for trade agreements. He emphasized that now is the time to invest in India, particularly in Kerala, to avoid missing out on significant opportunities. “This is the time not to miss the boat and to invest in India, invest in Kerala, because those who miss the boat may be left at the shore,” he added.
Kerala as an Investment Destination
Praising Kerala as an attractive investment destination, Goyal offered the Centre’s strong support to the state in realizing its full potential. “Look at what all Kerala offers to the investors. Whether it is tourism, whether it is manufacturing, whether it is logistics. In every sphere, Kerala is at the forefront of development,” he said.
Goyal commended the state’s collaborative efforts with the Centre, emphasizing the spirit of cooperative federalism. “Today, the entire country is working with the spirit of cooperative federalism. All states are working in tandem with the Centre in the spirit of collaboration, and, of course, there must be some competition also,” he stated.
Assurances from the Kerala Chief Minister
Chief Minister Pinarayi Vijayan assured investors that they would not face procedural delays or barriers of red tape while leveraging the state’s strategic advantages to set up industries. “We have assured that no investor coming to Kerala will have to face the cobweb of procedural delays and meet barriers of red tape,” he said.
Vijayan noted that Kerala’s investment scenario is on the cusp of a historic transformation. “We have made major strides in simplifying procedures as regards investments,” he added. He highlighted the establishment of 6,200 startups with an investment of ₹5,800 crore, creating 62,000 jobs. The state aims to have 15,000 startups and create 100,000 jobs by 2026.
Legislative and Policy Initiatives
Citing a series of legislative and policy initiatives, Vijayan stated that these changes have substantially transformed the state’s industrial landscape. “These changes brought about by the state government are not incremental but substantial,” he remarked.
Conclusion
Kerala is poised to become an investment hub with the government playing the role of facilitator and catalyst. The state’s focus on policy formulation and implementation at the grassroots level, combined with the anticipated India-US trade pact, presents a promising future for investors and the state’s economic development.
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