Even if we use a strong oxidising agent like 'permanganate ion in acidic medium' it doesn't help oxidise iodide to iodate, but a relatively weaker oxidising agent 'permanganate ion in alkaline medium' helps to form iodate from iodide.
I have found one discussion similar to this but it's not convincing.
Even in alkaline medium the potential is negative although significantly lesser than in acidic medium. Then how does the reaction even proceed in alkaline but not in acidic?