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Time of India

Kerala sees 100% FDI growth: Minister

Thiruvananthapuram: Industry minister P Rajeeve said the state's new industrial policy has significantly transformed Kerala's entrepreneurial landscape and boosted job opportunities, enabling more youth to find employment within the state. Inaugurating the International MSME (micro, small and medium enterprises) Day celebrations, organized by the department of industries & commerce and the World Bank-aided Kera project, Rajeeve noted that Kerala is witnessing a rise in reverse migration amid global geopolitical tensions. He affirmed the govt's commitment to building an industry-friendly ecosystem that supports both employment and economic growth. The event's focal theme, ARYSE-Kerala (Awareness and Response for Young and Student Entrepreneurs), reflects the state's efforts to empower the next generation of entrepreneurs. "We are focusing on knowledge-based industries by leveraging Kerala's highly skilled workforce," Rajeeve said. Initiatives such as K-Store and K-Shoppe have enhanced sales for homegrown MSMEs and nano units. Under the Made in Kerala brand, products like coconut oil—branded as Nanma—have gained customer traction, with 10 more products to follow. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Honda SP160: Now with More Power and Style Honda Learn More Undo Other key interventions include subsidies and margin money for nano units, campus industrial parks for youth entrepreneurship, private industrial estate schemes, and extended support for marketing, taxation, and MSME sustainability. Rajeeve said the Invest Kerala Global Summit (IKGS), held earlier in Kochi, attracted Rs 1.96 lakh crore in investments. Kerala also recorded 100% growth in foreign direct investment (FDI), making it the top achiever in ease of doing business, as per a recent Union govt report. He said coordinated efforts by the govt and industries department have significantly reduced the failure rate of new MSMEs. Based on studies by IIM Indore and the Centre for Management Development, the govt will soon launch Mission 10000, aiming to scale up 10,000 nano enterprises to generate a combined turnover of Rs 1 lakh crore. An MoU between the directorate of industries and commerce and the Kera project was signed at the event.