Thiruvananthapuram: The ‘Make in Kerala’ initiative announced in the State Budget presented by Finance Minister KN Balagopal will give a boost to innovation and entrepreneurship, Adeeb Ahamed, Managing Director of LuLu Financial Holdings and Twenty14 Holdings, said on Friday.
The budget proposal will help tap the full potential of Kerala’s strengths as a producer state, focusing on infrastructure development and self-sufficiency, he said in a statement.
“By fostering an ecosystem that combines market research with strong foundation of our small and big industries, we can become a net exporter to rest of India in areas such as agriculture, manufacturing, IT services etc., and narrow our trade deficit.”
Claiming that the State budget focus on self-sufficiency, tourism and NRK welfare, Adeeb, whose companies operate in the financial services and hospitality sector, said he is committed to invest in these core sectors in 2023.
Talking about the proposals to further modernise the tourism sector, Adeeb, who owns several luxury hotels around the world, including the award-winning Port Muziris Hotel in Kochi, said, “It is encouraging to see the State doubling down on its efforts to promote travel & leisure, which has down the years become synonymous with Brand Kerala internationally.
“By earmarking funds to develop integrated strategies such as ‘Work From Holiday Home’ and tourism corridors for experiential tourism, the State budget has assured stakeholders that tourism will remain the mainstay of the State’s focus in 2023 and beyond.”
Adeeb also said continuing upon last year’s proposal to build several no-frills airstrips and improve road & water infrastructure will boost connectivity and drive inter-district travel.
NRK welfare has given support like always, the topic of NRK welfare is on everyone’s mind, and Adeeb expressed happiness at the budget taking into consideration the welfare, skill development and rehabilitation of returning NRKs.
“The pravasi community has for long supported the state through thick and thin, and as economic shocks affect their job security abroad, measures such as the NORKA Department Project for Returned Emigrants (NDPREM) and financial assistance schemes for dependents of deceased pravasis, will build faith in the government’s policies.”
