The government of Kerala has decided to launch a Non-Resident Keralites (NRK) Investment company with 74 per cent stake to be held by expats.
Non-Resident Keralites Investment Company
- 74 per cent of the capital NRK Investment and Holding company ltd would be raised by issuing shares to NRKs.
- Government of Kerala will have 26 per cent stake in the NRK Investment and Holding company ltd.
- The company has been raised to attract NRI investments for implementing various projects.
- The government hopes to set up a separate or a subsidiary company to channel the investments for financing the infrastructure projects in the state.
- NORKA (Non-Resident Keralites Affairs) Chief Executive officer has been appointed as the special officer of Non-Resident Keralites Investment Company
The setting up of the Non-Resident Keralites Investment Company is based on the recommendations of the standing committee of the Loka Kerala Sabha (World Kerala Assembly) which was hosted by the state government to bring Keralites living around the globe under one platform and utilising the NRK expertise for developing the state.