Kerala Needs Huge Investment, Says Isaac at KMA Meet

KMA Meet

Kochi: “Financial sector has come to rule the economy; Finance is no more the servant of the Production. There must be a social consequence for this major change. In the coming five years, an investment of at least Rs. 1 lakh crore is needed to get on the development track,” said Dr. T M Thomas Isaac, Finance Minister, Kerala while inaugurating the AIMA Summit and Kerala Management Association’s 60th Annual Convention at Le Meridien, Kochi.

He said that a huge investment is needed for infrastructure development in Kerala. “We have universal schooling but we need to invest in the higher education sector. We have to set up world-class higher education centres to support the knowledge-based industries,” he said.

Emphasizing some of the investment opportunities for the management organisations, he said, “a major programme which is coming soon is of the titanium mineral unit expansion. The petrochemical park project is also on track. Destination development is another area. This is a partnership where you will link an investment programme to a declared infrastructure programme,” he said.

According to Isaac, Kerala’s SME space is flourishing and, “it is time to think how entrepreneurship can provide capital by handholding with our State. We should encourage startups for enhancing the entire industry. The areas of core competencies should also be identified.”

“We made appreciable achievements in the health and education sectors, but we need a huge investment still which is inevitable for a sustainable development of the state,” the minister added.

T V Mohandas Pai, President, AIMA; Mahatria Ra, founder of Infinitheism and Rekha Sethi , Director General, AIMA also joined for the lighting the lamp ceremony. Twenty eminent speakers and 2000 delegates from the length and breadth of the country joined the convention for keynote, mentoring and networking sessions based on tech and non-tech transformations in today’s fast paced and fiercely competitive world.

Appreciating the valuable contribution made by KMA to the country over the past 60 years, Pai said, “the past years of KMA have been truly transformational for a very ancient civilization like India”.

Commenting on the theme of the AIMA Summit he said, “We are facing the biggest disruption in the human history right now.To understand the impact of this change, we should go back to history, because history teaches us how to handle changes.” He gave a brief note on the drastic changes which have shaped the history and went on to say that digitalization turned the world into a huge single market.

Vivek Krishna Govind, President, KMA, delivered the presidential address, while Madhav Chandran, secretary of KMA proposed the vote of thanks.

There was a special transformational session by Mahatria Ra, where he defined the term Transformational Technology in the current world which is running after Information Technology.

Ajey Mehta, MD, Nokia India; Richard Rekhy, Global Board Member, KPMG Global; Hrishikesh Nair, CEO, IT Parks participated in the plenary session on the topic ’Leadership in a disrupted world’.