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30/09/2022 12:38pm

Kerala draft industrial policy offers electricity bill waiver to new MSMEs for 5 years

image Kerala draft industrial policy offers electricity bill waiver to new MSMEs for 5 years

Thiruvananthapuram, Sept 30 (KNN) The Kerala government has plans to provide waiver on electricity bill of new Micro, Small and Medium Enterprises (MSME) for five years under the industrial policy which is underway.

The electricity tariff as a duty is 10 per cent for the small-scale industries.

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To make the state a business-friendly state various new schemes are recommended, and to encourage MSME raise funds from the stock market a maximum of Rs 1 crore will be returned to the entrepreneurs, said Minister of Industries, P Rajeev.

By the first week of October the draft policy will be published on the website of Kerala State Industrial Development Corporation (KSIDC), informed the minister.

The policy is expected to be released by January, 2023 and from October 20, 2022 discussions will be held with various organisations in the industry related the draft policy.

A maximum of Rs 30 lakh will be returned to enterprises for covering costs incurred in receiving patent, copyright and trade mark.

Stamp duty and registration will be waived for women, SC, and ST entrepreneurs for buying and leasing lands.

Enterprises based on artificial intelligence, ayurveda, biotechnology, designing, electronics designing and manufacturing, manufacturing of electric vehicles and accessories, engineering research and development, hi-tech agriculture, food technology, high-value added rubber products, medical devices, graphene, 3D printing and marine cluster will be encouraged.  (KNN Bureau)

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