Industries Minister P Rajeev says Kerala’s MSMEs have a stronger industrial ecosystem now. According to him, a lot has been improved in Kerala’s industrial ecosystem. Thus, their position in the several reforms has also improved. The state has been focusing on the growth in the intellectual industry including AI and blockchain. Thus, the ecosystem is becoming a support in itself for the new startups in the state. He believes that the launch of new policies and reforms has brought improvement in the state’s MSME sector. Let us discuss below how it works.
How Has Kerala’s MSME Sector Changed Over The Past Few Years?
Kerala’s MSME Sector is changing over time. Industries Minister P Rajeev says in his recent talks with the MSME leaders during the roadshow. According to him, the MSME sector in Kerala has developed a lot. The industrial ecosystem is now stronger. It was on a much lower ranking previously. However, the state has been at the top in the Ease of Doing Business ranking now. It is a ranking from 1-190 where several economies are observed and ranked based on their environment and regulations for the local businesses and firms.
The Kerala state government is also promoting the MSMEs growth. Thus, the environment for the MSME’s growth is positive. The local businesses are getting opportunities to grow under the new schemes and policies. At the time of Kerala’s current government’s beginning, the state was at 28th rank. Thus, there was still a lot of work to do. However, the new reforms by the government led to the state achieving the top ranking in the ease of doing business.
He further continues that the state’s MSMEs are working on the motto of Nature, People, and Industry. Thus, it includes all the major industries that come under the category of intellect. Kerala’s MSMEs are focusing on the growth in AI, Blockchain, Big data analytics, Machine learning, Aerospace, Defence, and 22 sectors in total. Making it their priority, the MSMEs have their goals clear in their mind. Not only MSMEs are getting financial support, but the state also believes in providing equal opportunity to women in MSMEs.
The central government also promotes the “Year of Enterprises” under which, the government works to help 2,90,000 MSMEs with Rs. 18,000 crores investment. While 92,000 of them will be women entrepreneurs. All the beginners in MSMEs also get learning and advice from the MSME clinic. The state also conducts road shows for the investors to invest in their priority 22 sectors. Bengaluru Event was one of the roadshow examples of Kerala’s Industrial Roadshows.