Kerala abstains from attending WEF 2022; Neighbours attract investment worth Rs 95,800 cr.

Jun 02,2022

Kerala abstains from attending WEF 2022; Neighbours attract investment worth Rs 95,800 cr.

Thiruvananthapuram: Kerala's neighbours turned successful in attracting investment worth Rs 95,800 crores from World Economic Forum conference held at Davos in Switzerland, an event which the state abstained from participation.

In the global event held after two years of the Covid-19 pandemic break, states like Karnataka, Maharashtra, Telangana and Andhra Pradesh managed to sign contracts worth Rs 60,000 cr, Rs 30,000 cr, Rs 4,200 cr and Rs 1,600 cr respectively. It may be specifically noted that Telangana managed to get investment in life science pharmaceutical arena, one of the key areas that Kerala eyes to explore.
Last time Kerala participated in World Economic Forum was in 2006, during Oommen Chandy's tenure as CM. It was the first Indian contingent from a state.

Meanwhile, in this year's event, union ministers like Piyush Goyal, Mansukh Mandaviya and Hardeep Singh Puri participated. Apart from this, around 100 organizational chiefs from India too took part in the three-day event from May 23 to May 26.
India's presence was lauded by some economists. While China and Russia abstained from attending the event.
The conference held yearly aims to provide a platform for private-government partnerships.