Investment proposals worth Rs 1.53 lakh crore received at the two-day Invest Kerala Global Summit held in Kochi. Industries Minister P. Rajeev said that 374 companies submitted expressions of interest (EoIs) worth Rs 1,52,905.67 crore.

24 IT companies expressed interest in expanding their businesses with an additional investment of about Rs 8,500 crore and additional employment opportunities for 60,000 people. The minister also said that about 66 companies have submitted EoIs for investments of over Rs 500 crore.

Around 3,000 delegates including global industry leaders, entrepreneurs and investors from 26 countries attended the event. A total of 30 special sessions were held at the investment summit. More than 100 initiatives reflecting the focus areas were also showcased.

He said that the state government will form a special committee to prepare new guidelines for plantation land use and a ministerial committee will be formed to relax land laws. There are also plans to set up a fast-track mechanism to take forward the EOIs made at the summit. To follow up on this, a special dashboard and mechanism will be set up. A special toll-free number and email ID will be set up for investors, the minister said.

The Invest Kerala Global Summit will be held once in three years, the minister said.