Kerala-EU Blue Economy Conclave Attracts Investment Proposals Worth Rs 7,288 Crore

(MENAFN- IANS) Thiruvananthapuram, Sep 19 (IANS) Kerala's maritime and coastal economy has received a significant boost with investment proposals worth Rs 7,288 crore emerging from the two-day Kerala-European Union (EU) Blue Economy Conclave, "Blue Tides", which concluded at Kovalam on Friday.

Minister for Fisheries, Culture and Youth Affairs Saji Cherian, addressing the valedictory session, said 28 investors signed expressions of interest during the conclave.

"This event has gone far beyond its initial targets and set an example for the entire country. It marks the beginning of a major leap forward for Kerala's fisheries and allied sectors," he said.

The conclave, jointly organised by the Kerala and the Central governments and the European Union, explored avenues for sustainable and inclusive growth of the state's coastal economy.

Cherian recalled Chief Minister Pinarayi Vijayan's inaugural address, in which he highlighted the event as a gateway for innovation and climate-resilient development of both seas and coastal communities.

A notable outcome was the EU's request for Kerala to establish a dedicated platform to facilitate ongoing collaboration with European nations.

"Team Europe realised there are many avenues for cooperation with Kerala," EU Ambassador to India, Herve Delphin, said.

He added that the conclave builds on the momentum of the global Blue Economy Summit held in France earlier this year, and underlined opportunities in healthcare, IT, logistics, and sustainability.

Chief Secretary Dr A. Jayathilak emphasised that the conclave went beyond investment discussions, covering diverse themes including cutting-edge marine technologies, global supply chain integration, and strategies for climate change resilience.

The Rs 7,288 crore proposals are expected to bring direct benefits to Kerala's fisheries sector, particularly in areas such as deep-sea fishing, seafood processing, and marine infrastructure.

Ancillary sectors like port development, shipbuilding, logistics, and cold chain systems are likely to gain momentum as EU investors bring in advanced technology and sustainability practices.

Additionally, collaborations in IT and healthcare could broaden the scope of Kerala's blue economy, ensuring long-term economic diversification and job creation along the coast.

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