RTI reveals Kerala has no record of ₹75,000cr investment commitment
What's the story
A Right to Information (RTI) query has revealed that the Kerala government has no information on the ₹75,000 crore investment commitment linked to Abu Dhabi Investment Authority (ADIA). The announcement was made during Ascend Kerala 2020, a major investor summit held on January 9-10. Kochi-based RTI activist K Govindan Nampoothiry sought details about investments announced at this summit.
Summit details
No official records or updates available
The Kerala government had claimed that Ascend Kerala 2020 drew over ₹1 lakh crore in investment intentions through Memorandums of Understanding (MoUs) and Letters of Intent (LoIs). Out of this, ₹33,301.94 crore was earmarked for MSME sector proposals while the remaining ₹75,000 crore was linked to ADIA-related projects. However, the RTI response shows no official records or updates on this particular investment are available with the state government.
Project status
Status of other projects announced at the summit
The RTI response also sheds light on the status of other projects announced at the summit. Kitex Group has moved its proposed ₹3,500 crore project to Telangana while Joyalukkas India Pvt Ltd has deferred its ₹1,500 crore proposal. Delwan Group announced a ₹1,000 crore project but has not submitted a detailed proposal yet.
Project progress
RTI response highlights gap between announcements and execution
Nampoothiry said a large number of projects announced at the summit have not materialized. He also noted that even a small percentage of these commitments have seen limited progress. The RTI response highlights the gap between investment announcements at large-scale summits and the availability of verifiable data on their execution, raising questions about tracking and disclosure practices for such proposals.