Industry initiatives have raised Kerala’s credibility at global level: Minister P Rajeeve

Kochi: Kerala Government’s initiatives as part of its New Industrial Policy have enhanced the state’s credibility at the global level, Industries Minister Shri P Rajeeve said today.

Pointing out that Kerala saw the launch of 3,40,202 enterprises since 2022-23, when the ‘Year of Enterprises’ programme was initiated, Shri Rajeeve said the scheme has generated 7,21,000 jobs so far. “In all, these enterprises have invested a total of Rs 21,838 crore,” the Minister said after inaugurating the Mission 1000 conference organised by the Department of Industries and Commerce.

Mission 1000 seeks to enable 1,000 MSMEs in the state with each of them generating an average annual turnover of over Rs 100 crore or more in the next four years.

Speaking at the function here, the Minister said technology companies beyond the IT services sector were also showing interest in coming to Kerala.

“True, industries needing vast lands may not find Kerala feasible, but we have become a favorite destination for companies providing technology services to large industries. The state is becoming a hub for technologies such as automotive technology, generative AI and machine learning,” he noted, recalling that the state was already a major producer in healthcare technology.

Mission 1000 shows the state government’s faith in MSME entrepreneurs, having selected 260 entrepreneurs in the first phase, the Minister said. “The Industries Department is offering all kinds of assistance,” he added, revealing that the first enterprise to earn Rs 100 crore in revenue will be awarded.

Principal Secretary, Industries and Commerce, Shri A.P.M. Mohammed Hanish presided over the function
while Director of Industries and Commerce Shri Mir Mohammed Ali delivered the keynote address.

KSIDC General Manager Shri Varghese Malakkaran, Deputy General Manager Shri Jose Kurien Mundakkal,
SBI Chief Manager Shri Jiju Mohan and Canara Bank Divisional Manager Shri Jojo KS made presentations on various schemes.

Other speakers included Additional Directors Rajeev G and Dr. K. S. Kripakumar, SLBC (Kerala) Convener Shri Pradeep K. S, K-DISC Executive Director Shri P. M. Riyas, KSSIA Vice President Shri P. J. Jose and FICCI Kerala state Council Chair Shri Bibu Punnaran.

In the technical session that followed the inaugural session, MSME DFO Assistant Director Ms Rekha K,
ThoughtMinds Co-Founder Shri Rinish K N, Indeeya Senior Operations Manager Shri Rahul Koroth,
CSIR-NIIST Senior Scientist Shri R S Praveen Raj and PA Footwear Vice Chairman Shri Chinnaswamy Anbumalar spoke.

Mission 1000, which is being implemented under the Union government’s RAMP (Raising and Accelerating MSME Performance) programme, will select one thousand enterprises based on their performance. The Industries Department will provide them incentives for expansion.

The scheme permits rebate up to 50 per cent of the interest rate on working-capital loans and financial assistance (up to Rs 1 lakh per enterprise) for preparing DPR for scale-up. An officer from the Industries Department is appointed for each selected enterprise to assist them in their various expansion-related activities.