The Kerala Advantage.
Kerala has an enviable tradition of literacy and social development, is endowed with unique natural resources and is supported by a thriving diaspora.
High quality human capital and social development. Kerala has enviable human resources. Its literacy levels are over 90 per cent, significantly above the country average, especially for women. On social indicators, too, Kerala is well ahead of other Indian states. The state scores the highest among all Indian states on the UNDP Human Development Index. Its female-to-male ratio is the best in the country, and among the best in the world. It has the most extensive medical infrastructure and the lowest infant mortality rate in the country. Moreover, at 25 per cent, the number of people below the poverty line in the state is significantly less than the national average of 35 per cent.
Traditional areas of strength. Kerala’s long, scenic coastline has provided ample opportunities for sectors such as tourism and marine products. The State is now one of the highest earners of tourism revenues in the country and one of the world’s premier tourist destinations. In addition, Kerala has begun to leverage its strength in ayurveda, unani, naturopathy, and other traditional healthcare systems that are growing in popularity throughout the world. The state is also the leading producer of natural rubber, coconuts, pepper, and cardamoms and the second largest producer of tapioca, cashew nuts and coffee.
Economically successful Diaspora NRIs from Kerala are economically successful, and remit significant amounts to their home state. Over the past 5 years, deposits from non-resident Keralities have grown at a healthy 15 per cent CAGR, and account for an impressive 13 per cent of the country’s total NRI deposits. This could grow further, through a systematic programme on the lines of the initiatives undertaken by the Chinese Government.
However, the performance of the State in the industrial sector leaves much to be desired. The hopes and aspirations of people of Kerala can be fulfilled only by bringing in a paradigm shift in the policies hitherto followed and articulating a vision of Kerala, new and bold.
Kerala offers numerous advantages to investors. A study conducted by the Confederation of Indian Industry (CII) across 18 states in India, on the attractiveness of the states in attracting investments, rated Kerala as the third best in the country in overall ranking
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