JEDDAH, 7 June — A senior Cabinet minister of the Indian state of Kerala has disclosed his ministry’s plans to utilize the savings of Indian expatriates working in Saudi Arabia and other Gulf countries by investing their funds in industrial and IT sectors.
P.K. Kunhalikkutty, the minister of industry and information technology in Kerala, said the United Democratic Front (UDF) government would formulate a strategy to bring the state out of its present economic crisis. “The thrust will be on making use of private capital for developmental activities.”
In an exclusive interview with Arab News, the Muslim League leader highlighted the strong relations between Saudi Arabia and India. “The government will make use of these relations to promote Saudi investment in the state,” he added.
Kunhalikkutty, who is the parliamentary party leader of the Indian Union Muslim League (IUML), a major ally in the ruling UDF with 19 MLAs, said the UDF government had appointed a minister to look after the welfare and affairs of non-resident Keralites. The UDF, an alliance of nine parties including Congress party, IUML and Kerala Congress groups, won 100 seats out of 140 in May 10 assembly polls.
“I have no doubt about the strength and unity of the UDF,” Kunhalikkutty said when asked whether the groupism within the Congress would affect the coalition government. “The UDF will march forward with greater cooperation.” He refuted as “misconceptions spread by vested interests” the reports of entrepreneurs being scared of setting up industries and other projects in the state due to labor strikes and other problems created by trade unions. “Statistics show that Kerala is a problem-free state for entrepreneurs and industrialists, compared to many other Indian states,” he pointed out.
Asked whether his government had any plans to accommodate Keralite IT experts returning from the United States, he said: “We have specific plans. The IT department is working on these proposals.” He said the government of Chief Minister A.K. Antony would bring out an industrial policy to encourage entrepreneurs in the state.
“Expertise of US returnees will be utilized for the expansion of the IT sector in the state,” he added. However, he said the government had no plan at present to revamp Keltron company.
