Kerala's MSME Facilitation Act Benefitted 7000 MSMEs

State Principal Secretary (Industries) K Ellangovan has said that around 7,000 enterprises have taken advantage of the Kerala Micro, Small and Medium Enterprises Facilitation Act 2019 so far to launch new ventures in the state.

He said this while speaking at a session on ‘Modern industrial possibilities’ at ongoing Kerala Looks Ahead international conference on Wednesday.

MSMEs in Kerala

He further said that the Facilitation Act, which are basically single-window clearances for new enterprises, have taken Kerala to the list of top investment destinations in the country.

''The positive changes brought in by such measures will be felt more tangibly over the next five to six years,'' Ellangovan added.

He said that the government’s realisation of the high cost of land had also prompted it to acquire land and build industrial parks to provide plug-and-play facilities.

Industrial Landscape in the State

''There are 125 industrial parks, which are now fully occupied,'' he added.

While claiming that 47 per cent of the total MSMEs in the state were added over the last four years, Ellangovan said, ‘‘The state government is promoting investments in areas like precision engineering, space research, aviation and defence industries, food processing, and electronics manufacturing.''