Kerala witnessed 2.64 lakh new ventures, Rs 16,800 crore investment, says Minister P Rajeev

Kochi: Minister of Industries P. Rajeev has announced plans to develop local retail markets to increase retail sales in the state and attract more FMCG (Fast-Moving Consumer Goods) manufacturing companies to Kerala. He was speaking at a meeting of multinational companies in the FMCG sector, convened by the State Department of Trade and Industry under the auspices of the Kerala Industrial Promotion Bureau.

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A meeting of companies operating in Kerala was held to receive suggestions for drafting a comprehensive trade policy for the commerce and retail sector, to be introduced by the state government. The draft is to be prepared within two weeks, and stakeholders in the trade sector can provide suggestions through a dedicated WhatsApp group to be formed for this purpose.

As part of the state government's Entrepreneurship Year program, 2.64 lakh new enterprises have been set up in the state, with an investment of over Rs 16,800 crore and creating 5.6 lakh job opportunities. Of these, 1.17 lakh enterprises and an investment of over Rs 7100 crore are in the retail and wholesale trade sector, creating 2.21 lakh new jobs. Considering the changing business needs, the government has formed a separate trade division under the Industries and Commerce Directorate to give more emphasis to this sector.

According to the minister, the state government has set up various facilities for MSMEs, including the commerce sector, in all districts, such as MSME clinics, insurance, and free-cost accounting services. The comprehensive logistics policy formulation is in its final stage. The minister also said that a special logistics corridor in Vizhinjam is under consideration by the Kerala government.

Industry Principal Secretary A.P.M. Mohammed Hanish presided over the event, which was also attended by Industry and Commerce Director S. Harikishore, Additional Director K.S. Kripakumar, K-bip CEO S. Suraj, and KINFRA MD Santhosh Koshi Thomas. Representatives from 30 companies across various sectors, including Abbott India, AVT, Godrej Consumer, ITC, Medimix, Nirma, Poppies Baby Care, and Unibic Foods, participated in the discussion. The minister also held talks with representatives from various associations and boards in the trade and industry sector.
 

• P Rajeev
• Kerala startups
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