ENA State 2025-01-10 16:19:14 <p><span style="font-size:14px"><strong>Thiruvananthapuram, Jan 10 (KNN)</strong> The Kerala state government has invested Rs 21,838 crore in enterprises established under its Year of Enterprises programme, Industries Minister P Rajeeve announced during the recent Mission 1,000 conference.</span></p> <p><span style="font-size:14px">The minister highlighted that the state's new industrial policy initiatives have strengthened Kerala's global standing, with 340,202 enterprises launched since 2022-23, creating 721,000 jobs.</span></p> <p><span style="font-size:14px">Under the ambitious Mission 1,000 initiative, Kerala aims to establish 1,000 MSMEs, each targeting an annual turnover exceeding Rs 100 crore within the next four years.</span></p> <p><span style="font-size:14px">Rajeeve noted growing interest from technology companies beyond the IT services sector, emphasising Kerala's emergence as a hub for automotive technology, generative AI, and machine learning, while acknowledging its established position in healthcare technology development.</span></p> <p><span style="font-size:14px">The state government has already selected 260 enterprises in the first phase of Mission 1,000, demonstrating its commitment to MSME growth.</span></p> <p><span style="font-size:14px">The industries department has pledged comprehensive support to these businesses, including an award for the first enterprise achieving Rs 100 crore in revenue.</span></p> <p><span style="font-size:14px">The initiative, implemented under the Union government's Raising and Accelerating MSME Performance (RAMP) programme, will identify 1,000 enterprises based on performance metrics.</span></p> <p><span style="font-size:14px">To facilitate expansion, the scheme offers substantial incentives, including up to 50 per cent rebate on working capital loan interest rates and financial assistance of up to Rs 1 lakh per enterprise for detailed project report preparation.</span></p> <p><span style="font-size:14px">The industries department has taken an additional step by assigning dedicated officers to each selected enterprise, ensuring personalised support for their expansion endeavours.</span></p> <p><em><strong><span style="font-size:14px">(KNN Bureau)</span></strong></em></p> 40597 https://knnindia.co.in/news/newsdetails/state/kerala-to-invest-rs-21838-crore-in-enterprise-development-initiative 2025-01-10 16:19:14 knnindia.co.in