An approach paper presented by the State government at the third Loka Kerala Sabha has mooted crowdfunded infrastructure development by seeking investments from non-resident Keralites (NoRKs).
Shares invested in developing roads, airports, waterways and other infrastructure will fetch reasonable dividends for investors, the document says.
Among the various investment possibilities, the government pinpoints tourism as a promising avenue for capital infusion. Urging the diaspora to become brand ambassadors of Kerala’s tourism industry, Industries Minister P. Rajeeve, who read out the approach paper, says the sector, which is in on a revival path following the COVID-19-induced slump, will receive a massive boost if at least 2% of NoRKs visit the State every year.
The document lays stress on efforts to diversify tourism activities by focussing on educational tourism, cultural tourism, caravan tourism, eco-tourism, and medical tourism.
Emphasising the need to improve higher education standards, the government has proposed investments in establishing institutions that can match the global standards in the public-private partnership (PPP) mode. It stresses the role of the Loka Kerala Sabha in roping in academics among the diaspora as mentors and honorary professors. The possibility of collaborating with foreign universities for fellowships and student exchange programmes in social sciences and science and technology can also be explored through the platform.
The government also hopes to utilise the technical expertise of NoRK professionals in implementing the LIFE Mission housing project. The collaboration can usher in innovation in constructing houses by tapping the potential of prefabrication and other alternatives that are in vogue elsewhere.
The other potential areas of investment include medical devices and diagnostic tools, coastal protection, waste management, and agriculture, the approach paper says.
The sabha held deliberations in eight subject areas. The suggestions of the delegates will be compiled for the final presentation on the concluding day on Saturday. A total of 351 members, including elected representatives and expatriates, are attending the conference.
Speaker M.B. Rajesh, NoRKA Roots Vice Chairman M.A. Yusuff Ali, and Director Ravi Pillai were among those who spoke at the opening session.
