Kerala is on the fast track to industrial growth, and the State could attract investments worth ₹44,000 crore from domestic entrepreneurs in the last three and a half years alone, Industries Minister P Rajeeve said.

The minister outlined the State’s future growth trajectory while inaugurating the conclave of entrepreneurs investing ₹100 to ₹500 crore organised by the Kerala State Industrial Development Corporation (KSIDC) ahead of Invest Kerala Global Summit.

As many as 696 new enterprises with an investment of more than ₹1 crore have been started in the State since 2021. Of these, 203 have invested more than ₹100 crore, he said.

Kerala could attract a total investment of ₹15,925.89 crore in this segment.

As part of the 2022-23 entrepreneurial year, 3,43,083 enterprises were formed , attracting investments of ₹21,299 crore and providing employment to seven lakh people. Of these, 31 per cent are women entrepreneurs.

The State, according to the Minister, had achieved similar progress in diversification and increased activities of companies with significant investments during this period.

He pointed out that the transparency of the procedures for starting industrial enterprises, brought about a qualitative change in the State’s entire industrial sector. The State Industrial Policy 2023 has identified 22 priority sectors that could attract substantial investment.

Principal Secretary (Industries) APM Mohammed Hanish said the State government provides many attractive subsidies and incentives to support new entrepreneurs.

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