Lack of infrastructure a major hurdle to Kerala

KOCHI: The Federation of Indian Chambers of Commerce and Industry (FICCI) is looking forward to working closely and establishing a system of co-operation and co-branding with various chambers of commerce and industry at the state-level, FICCI president R V Kanoria has said.He was speaking at an interactive session with the business community here on Wednesday.  Kanoria, who announced FICCI’s support for ventures in Kerala, said that the lack of infrastructure was a major hurdle to the development of the state. “Though contribution by non-resident Keralites and better possibilities in tourism and IT sectors make Kerala a better investment destination, the lack of infrastructure stands as an impediment to all prospects for development,” he said.The FICCI president added that high tax rates have become a problem for advancement in international trade. “To withstand the impact of the recent recession in the European Union, India has to take wise steps. FICCI has submitted its suggestions to the Union Government and we expect them to be considered favourably during the upcoming Budget session,” he added. Kanoria urged the government to roll out an amnesty scheme to bring back the money deposited by Indians in foreign banks. He further pointed out that strikes and hartals invariably affect the productivity and economy of the country in an adverse manner. According to Kanoria, the Food Security Bill was unlikely to help resolve the issues. “The root cause of the problems in agriculture sector has to be traced to find a solution to the issue of food security,” he said.Delivering the inaugural address, KCCI chairman K N Marzook urged FICCI to open a sub-centre of the federation in Kerala.Executive committee member of FICCI George Muthoot, who spoke at the interactive session, said that FICCI had a tendency to be north India-centric.