Kerala's Industries Department Marks Launch Of Over 2 Lakh MSMEs

Thiruvananthapuram, Dec 30 (KNN) The Kerala government has recorded the establishment of over 2 lakh Micro, Small, and Medium Enterprises (MSMEs), as part of the Industries Department's Entrepreneurship Year initiative, announced P. Rajeeve, Industries Minister, on Friday.

Addressing a press conference in Thiruvananthapuram, the industries minister stated that this initiative, launched on April 1, 2022, has attracted a total investment of Rs 12,537 crore and has resulted in the creation of 4.3 lakh jobs. 

According to reports, as of December 29, a total of 2,01,518 MSMEs have been launched under this campaign.

Among these enterprises, 64,127 were initiated by women entrepreneurs, while 8,752 belonged to the SC/ST categories. 

The minister noted, approximately 98 per cent of these establishments have been geo-tagged, and their details have been uploaded online to ensure transparency. 

Geo-tagging is currently an integral part of the registration process.

To offer necessary support to entrepreneurs, 1,034 trained professionals have been appointed in local bodies across the State. 

MSME clinics, the minister added, are being organised to address the concerns of these enterprises. 

Additionally, a monthly helpdesk, managed by an organisation of chartered accountants, assists entrepreneurs in filing GST returns.

Highlighting a critical issue, Rajeeve mentioned that the majority of MSMEs in the State lack insurance coverage, leaving entrepreneurs vulnerable during natural calamities. 

In response, the government has launched a comprehensive insurance scheme to safeguard these enterprises from various risks. 

The Department of Industries and Commerce has entered into a memorandum of understanding (MoU) with four public sector insurance companies for this purpose.

Mr. Rajeeve further stated that only 15 per cent of MSMEs in Kerala face closure in the first year, a figure significantly lower than the national average of 30 per cent. 

Proactive measures initiated by the department have successfully led to the reopening of 303 MSMEs that had initially closed down, the minister claimed.

(KNN Bureau)