The meetings, held from January 13-14, 2025, brought together Minister Rajeev and top UAE officials, including UAE Minister of Investment Mohamed Hassan Al Suwaidi and Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Chamber of Commerce. These discussions proved fruitful, with the UAE confirming its commitment to the event by sending a special delegation to Kerala for the summit. The UAE’s strong support signals a new chapter in bilateral trade and investment between Kerala and the Gulf nation.

Strategic Areas of Collaboration

The meetings focused on areas of mutual interest, with Minister Suwaidi expressing particular interest in Kerala’s burgeoning logistics and food processing sectors. The UAE has seen its investments diversify across various industries, and Kerala’s established strengths in these sectors made it an attractive destination for capital inflows. To further assess potential investment opportunities, the Abu Dhabi Chamber of Commerce also announced plans to send officials to Kerala for preliminary site evaluations ahead of the IKGS.

The discussions underscored Kerala’s readiness to embrace international investment, as the state continues to evolve as a crucial player in India’s economic landscape.

Ambassador’s Remarks on Kerala’s Strategic Position

During the investor roadshow at Taj Dubai, Indian Ambassador to the UAE, Shri Sunjay Sudhir, highlighted the unique strategic position of Kerala in Indo-UAE relations. “Kerala stands out in the trade connection. From humble beginnings, we have reached a stage where India is the UAE’s second-largest trading partner,” Ambassador Sudhir noted. He further underscored the growing economic importance of the UAE’s capital, stating that Abu Dhabi has emerged as the “capital of capital” with its sovereign wealth fund assets surpassing those of many other global financial hubs.

Minister Rajeev’s Vision for Kerala’s Industrial Future

Minister Rajeev took the opportunity to address potential investors and challenge misconceptions about Kerala’s industrial landscape. He emphasized the state’s remarkable contributions to India’s economy, despite its relatively small geographic and demographic footprint. “Despite occupying just 1.16% of India’s land area and 2.8% of its population, Kerala contributes a remarkable 4% to the national GDP,” he pointed out, bolstered by compelling statistics about the state’s diverse industrial achievements.

The minister also spotlighted Kerala’s leadership in the medical device industry, revealing that the state accounts for 24% of India’s total medical device industry turnover and 17% of medical device products. This data demonstrates Kerala’s significant role in the healthcare sector, both domestically and globally.

Technological Innovation at Kerala’s Core

In addition to its industrial prowess, Minister Rajeev highlighted Kerala’s pioneering role in technology. He drew attention to the state’s long history of technological leadership, citing the establishment of Keltron in 1973 – India’s first public-sector electronics company – and Technopark in 1993, which remains the country’s first and largest technology park.

Today, Kerala’s technological expertise continues to shape India’s future, with Keltron managing cutting-edge AI-based traffic control systems for National Highways and smart city projects across the country. These achievements underscore Kerala’s robust infrastructure in technology, making it an attractive destination for both domestic and foreign investors.

Looking Ahead to the Global Summit

With strong backing from the UAE’s business and government leaders, the upcoming Invest Kerala Global Summit is poised to be a landmark event in the state’s investment journey. The summit promises to be an excellent platform for showcasing Kerala’s potential across key sectors, including logistics, food processing, medical devices, and technology. As Kerala continues to foster strong ties with international markets, it is on track to become a major player in the global economic landscape.

As the state gears up for the IKGS in February, all eyes will be on Kerala’s growing role as a dynamic economic hub, driven by innovation, industrial excellence, and strategic international partnerships.

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The industrial and warehousing sector emerged as the dominant contributor to these investments, attracting a significant USD 2.5 billion. This represents a staggering 190% increase from the previous year and accounts for 39% of the total real estate investments. The office segment, which brought in USD 2.3 billion or 36% of total investments, closely followed the industrial sector in terms of inflows.

This surge in industrial and warehousing investments is primarily driven by robust manufacturing growth, improvements in logistics infrastructure, and India’s increasing position as a global manufacturing hub. Interestingly, more than 80% of these investments were sourced from foreign investors.

The residential real estate sector also performed well in 2024, with investments reaching USD 1.1 billion, marking a 46% increase compared to the previous year. This growth is attributed to strong domestic demand for housing.

Meanwhile, mixed-use properties saw a significant shift in investment patterns, with an impressive 822% rise in inflows, reflecting the evolving nature of investment trends in the Indian real estate market.

Domestic investors played a key role in driving the 2024 investment growth, contributing nearly one-third of the total inflows. These domestic investments increased by 27% YoY, with the fourth quarter of 2024 witnessing an especially strong performance. In Q4, investments reached USD 1.9 billion, more than double the amount seen in the same period of 2023. During this quarter, domestic investments accounted for 43% of the total, signaling increased confidence among Indian investors while international interest remained strong.

Foreign investments continued to dominate the Indian real estate market, contributing 66% of the total inflows. Of these foreign investments, investors from the Asia-Pacific (APAC) region made up nearly one-third, underscoring India’s growing appeal to global investors.

Mumbai captured the largest share of real estate investments in 2024, totaling USD 1.6 billion or 24% of the overall investments. The office sector led Mumbai’s real estate investments, making up 58% of the total, followed by industrial and warehousing investments at 20%.

Other major cities, including Bengaluru, Chennai, and Delhi NCR, attracted significant investment, each accounting for 8-9% of total inflows. Cities such as Hyderabad, Pune, and Kolkata also witnessed strong YoY growth in investments, particularly in the industrial and warehousing segments.

A notable trend in 2024 was the rise in multi-city deals, which accounted for 39% of the total real estate investments. This indicates a more balanced distribution of capital across India’s major real estate markets.

Badal Yagnik, CEO of Colliers India, commented, “APAC investors drove nearly one-third of the foreign inflows into the country’s real estate sector in 2024. Looking ahead, Tier-I cities will continue to attract the majority of capital, aided by government support for infrastructure development and the ‘Make in India’ initiative. While global investor confidence is expected to remain high, 2025 is likely to see increased capital deployment from domestic players across office, residential, and industrial segments.”

Vimal Nadar, Senior Director and Head of Research at Colliers India, added, “With the scale-up of manufacturing and continued healthy consumption levels, both domestic and global investments are expected to flow into ready-to-use and developmental industrial assets in the future.”

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Sonowal also flagged off three cargo ships — MV AAI, MV Homi Bhaba, and MV Trishul, along with two dumb barges, Ajay and Dikhu, from the GR Jetty, marking the launch of the Fixed Scheduled Service of Cargo Vessels. These vessels will operate on a fixed schedule between Kolkata, Patna, Varanasi, and Pandu in Guwahati, traveling along National Waterways 1 and 2, including the Indo-Bangladesh Protocol Route (IBPR).

Joining Sonowal on this momentous occasion were Union Minister of State for MoPSW, Shantanu Thakur, and Minister of State for Transportation (Independent Charge), Government of Uttar Pradesh, Daya Shankar Singh.

Speaking at the event, Sonowal highlighted the government’s efforts under Prime Minister Narendra Modi’s leadership to unlock the potential of India’s extensive inland waterways network. He emphasized the benefits of using waterways for cargo transport, citing its cost-effectiveness, eco-friendly nature, and efficiency compared to rail and road transport.

“The Jalvahak scheme incentivizes long-haul cargo movement on National Waterways 1, 2, and 16, creating a valuable opportunity for trade to shift towards waterways,” said Sonowal. “The regular scheduled service will ensure timely delivery and build trust among businesses, reinforcing the readiness of national waterways for efficient, economical, and environmentally responsible transportation.”ss

Sonowal also noted that the new service would contribute to the Prime Minister’s vision of transforming India’s transportation sector, enhancing its economic growth, and making it a more developed nation.

In an exclusive interaction with ANI, Sonowal further explained that cargo transportation by waterways would be faster, cheaper, and more environmentally friendly than road transport. He also mentioned that the Jalvahak scheme would offer a 35% transportation incentive for the next three years, urging stakeholders to take advantage of the program to improve India’s logistics sector.

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