KOCHI: The state government has been doing a lot in terms of attracting investments to boost the industrial sector in Kerala. The budget covers everything under the large umbrella called industry. Though experts deemed the budget good, the question that remains is where it would find the money for the projects.
“The budget has covered everything like metro rail projects and setting up of new IT Parks or allocation for them. All these pave way for boosting industrial sector,” says Vivek Krishna Govind, V-P, TiE Kerala.
Some of the sops for those in industrial sector include loans up to Rs 10 crore at an interest of 5% to MSMEs or entrepreneurs to establish coworking spaces on their land.
“Allocation to industries of Rs 1,800 crore, which includes subsidies to 30+ industrial parks, small-scale and nano industries and others would encourage more new facilites coming up in Kerala, said Akshay Agrawal, president, Indian Chamber of Commerce and Industries, Kochi.
Startups in focus
J9 crore earmarked for CM’s Special Assistance Scheme that is envisaged to make MSMEs and startups self-sufficient
J4 crore provided for new scheme aimed at reviving stressed and sick industries
J80 crore provided for Entrepreneur Support Scheme for providing startup investment