THIRUVANANTHAPURAM: The government will offer a 40% capital investment subsidy limited to Rs 2 crore to MSMEs selected under the Mission 1,000 initiative. This is part of the 'Make in Kerala' programme announced earlier.
The initiative is to identify and scale up 1,000 MSME units in the state to achieve a turnover of Rs 1 lakh crore in four years. Recently the government approved the industries department’s proposal for the initiative. It says selected units will be provided with various incentives to encourage their growth.
Most important is a capital investment Subsidy of 40% limited to Rs 2 crore. Interest subvention will be offered for working capital loans - 50% of the interest rate limited to Rs 50 lakh for a period of four years. An officer from the industries department will handhold of the selected enterprises.
The criteria says the MSME should have a valid UDYAM registration and must be in operation for at least three years as of March 31. To apply, log on to www.mission1000.industry.gov.in