Kerala aims to raise 1000 MSMEs achieve Rs 100 cr turnover within 3 years

Kochi, Dec 28 (KNN) The government of Kerala plans to scale up at least 1000 MSMEs to achieve Rs 100 crore turnover companies within three years, said Kerala Industries Minister P Rajeeve on Tuesday.

He said this while inaugurating the B2B summit - Exploring Business Alliance - between state and central PSUs organised by Industrial Department at Kochi.

Giving details about the developments in the MSME sector, he said, “Today as we complete eight months, and 26 days, the number of units started in the current financial year is 1,11,091. The investment made to the state is Rs 6828.38 crore. The employment generated is 2,40,708 from these enterprises.”

He also reflected on how Kerala's ranking in Ease of Doing Business has significantly improved from 28th position last year to 15th rank this year.

“Now we have plans to strengthen the MSME sector in Kerala. Our goal was to establish one lakh enterprises in the current financial year,” stated the minister.

“As part of promoting enterprises, we recruited, 1153 qualified persons and used them at local bodies- one for one panchayat, two for municipalities and one for 20 divisions of a Corporation. We could achieve the goal within eight months,” he said.

The state government is also formulating a plan for PSUs to become competitive and profit-making establishments.  (KNN Bureau)