The much-trumpeted Global Investors Meet (GIM) has
presented a grand idea, but failed to produce the intended
effect, said Justice V R Krishna Iyer, inaugurating the
one-day seminar on ''Global Investors Meet and After,''
organised by the Centre for Studies in Development Strategy
flaying GIM for its lack of vision and clarity, he said
the ultimate goal of every development activity should
be the development of man, not of things or materials.
"The accumulation of wealth into the hands of a few
is a severe challenge to development."
level of growth and development should be measured on
the basis of progress made in terms of literacy, employment
opportunity, equal distribution of wealth and medicare,
he said. "An idea alone cannot create a sturdy base
on the achievements made by GIM so far, Jiji Thomson,
managing director, Kerala State Industrial Development
Corporation (KSIDC), said the prime motive was to create
a fertile ambience for a development oriented economy.
"It cannot be dubbed as a panacea for all problems
of the state."
was in a ''development paradox'' with tremendous growth
in sectors like education, public health, low birth rate
and equality in income distribution, he said. "But
the state is lagging behind in the process of income generation.
Successive governments failed in creating employment opportunities
and the financial situation worsened with investors shying
away from the state. And attracting private investors
to the state came to be the Hobson''s choice."
total of Rs 26,000 crore was committed at the meet and
the government has constituted an Investment Promotion
Board headed by the chief secretary to ensure fast-track
implementation of the committed projects. The International
School at Thiruvananthapuram and the Truck Terminal project
at Kalamassery will be inaugurated shortly, he said.
important projects on the anvil are Veli Amusement Park,
a mineral processing plant at Chavara, a technology project
at Panampilly Nagar, Track Tyres, Kochi Refineries expansion
integrated food processing unit, he said. "The successful
implementation of these projects depend on the proactive
follow-up by the respective departments, political consensus
and social support."