New Body Soon In Kerala To Pick Up GIM Threads

Thiruvananthapuram, January 14: | Updated: Jan 15 2003, 05:30am hrs
The threads of all viable projects that slips through the Global Investor Meet (GIM) fingers in Kochi this week-end will be picked up by a specially-framed state government body. A specific institutional mechanism will be soon put in place to handle all the investment follow-up on GIM, Kerala Chief Minister A K Antony told iFE.r The brief, modus operandi and the manpower of this new body will be worked out by a post-GIM committee, consisting of bureaucrats and politicial decision-makers.

Earlier, Mr M M Hassan, state information minister had announced the possibility of GIM trailing later to a post-GIM committee. However, an institutional set-up will be necessary in the long-run as Kerala State Industrial Development Corporation (KSIDC) recedes from its present role of capital support to that of sheer industrial catalyst. It will be the onus of the post-GIM committee to spell out the distinction of the new body with KSIDC.

"Unless such a body is institutionalised, GIM may end up as a one-time phenomenon. We will allow a free run of debates on any controversial investment project. It will also be the role of the new body to see that debates on apprehensions do not scare away the entrepreneurs, but impress them of the consensus in the making." Mr Antony said.

The Chief Minister did not divulge if the new `institutional set-up' will have a corporate character.

"We have reiterated that GIM will not be a mere mass-MoU signing show. Even the MoUs signed will have to be vetted by the Cabinet to get clearance. The basic role of the new body will be to see that these consensus-making processes do not slow down the procedures," he said.