THIRUVANANTHAPURAM: The state has brought out an industrial policy which lays emphasis on creating more employment by boosting industrial growth. The policy was approved by the state cabinet which met on Wednesday. The draft policy, which was published earlier soliciting comments from various stakeholders, was incorporated after suggestions put forward by key stakeholders.
The policy says the procedure for starting industries would be simplified and approvals will be given in a time-bound manner. More employment opportunities would be created by launching more micro, small and medium enterprises (MSMEs) in rural areas making use of the regional resources.
Non-resident Indians (NRIs), women, youth and ex-servicemen will be encouraged to start entrepreneurial ventures. The industrial policy also encourages private industrial estates. Suitable land would be identified in Malabar region to start natural gas-based industry. The industrial policy states it would give priority to set up waste treatment plants across the state.
Steps will be taken to make all the PSUs profitable. The profit of each PSU will be used for the expansion of the same unit. While the policy intends to double the production in Malabar Cements and TCC, it also gives emphasis to start gray cement production in Travancore Cements.