KOCHI: Kerala is facing unforeseen challenges and we have to adopt futuristic strategies to overcome the situation, said Kerala public sector Restructuring and Internal Audit Board (RIAB) former chairman M P Sukumaran Nair.

“Around 1 lakh Keralites are expected to return from the West Asian countries due to job loss and reintegrating them into our job market is a tough job. Most of them are semi-skilled workers. The government should promote the small and medium industries sector and help the Gulf returnees start innovative ventures at an investment of Rs 25 to 50 lakh. We are importing many daily-use consumer products from China which can be manufactured here with minimum investment,” he said. 

According to him, the government should provide collateral security for small entrepreneurs which will be beneficial in the long run. The food processing sector has huge potential for employment generation. The government should take up fallow land and provide incentives to improve farm output. The state can start manufacturing pre-fabricated houses which will have huge demand, he said. 

“The state should learn from countries like Thailand and Vietnam as the way they have implemented diversification is amazing. Products like natural extracts and dyes have a huge market and given the biodiversity of Western Ghats, the state has a huge potential in employment generation and improving revenue. The expertise of workers returning from West Asia can be utilised for the development of petrochemical park,” he said.