Kerala Unveils Second Phase Of 'Mission 1000'; 250 More MSMEs To Benefit

Thiruvananthapuram, Jan 5 (KNN) The Kerala government has announced the selection of an additional 250 Micro, Small, and Medium Enterprises (MSMEs) this year, in line with the state’s innovative 'Mission 1000' initiative, on Thursday.

This comes in addition to the 88 MSMEs already chosen for support in the project's initial phase, stated Industries Minister P Rajeeve.

While inaugurating the first phase selections, Rajeeve disclosed plans for another selection process, aimed at identifying a minimum of 250 MSMEs, under the scheme.

To facilitate the initiative, the minister also launched an online portal for MSMEs to access subsidies under the mission.

Launched by the Industries Department in April, 'Mission 1000' strives to elevate 1,000 MSMEs into businesses with an average annual turnover of Rs 100 crore within four years.

The Minister highlighted the success of the 'year of entrepreneurship' initiative, revealing that over two lakh enterprises were established between April 2022 and December 2023, with approximately 62,000 being women-led ventures.

“The Department of Industries and Commerce has envisaged campaigns in all local self-government institutions. As part of the campaigns, an entrepreneurs’ meet will be held in all panchayats this month,” the minister added.

Addressing the gathering, Principal Secretary (Industries) Suman Billa emphasised the department's commitment to nurturing entrepreneurship.

Through 'Mission 1000,' he added, the department aims to provide crucial support to the industry, facilitating its progression to the next level by streamlining business processes.

The initiative also extends various benefits, including a 40 per cent capital investment subsidy for entrepreneurs.

An online portal, mission1000.industry.kerala.gov.in, was launched on April 10, 2023, allowing MSMEs to apply for the scheme and avail themselves of the associated benefits.

(KNN Bureau)