88,217 MSMEs incubated in Kerala in seven months, says Rajeeve

KALPETTA

Industries Minister P. Rajeeve has said that as many as 88,217 enterprises, including micro, small, and medium enterprises (MSMEs), have been incubated in the State in seven months under the government’s initiative to establish one lakh MSMEs in a year.

Speaking at the Meet-the-Minister programme held here on Monday, Mr. Rajeev said entrepreneurs had invested ₹5,458.89 crore in the State for the purpose, and that it provided job opportunities to 1,92,561 people during the current financial year.

“If financial institutions, including banks, and civic bodies lend support, the State will become a haven for investors and entrepreneurs,” said Mr. Rajeev, adding that financial institutions should adopt a liberal approach to entrepreneurs. The loan-to-investment ratio in the State was very low compared to other States, and it should change, he said.

Kerala was emerging as an industry-friendly State, and the Meet-the-Minister programme was envisaged to strengthen the industry-friendly atmosphere, said Mr. Rajeeve.

Steps had been adopted to sell products from MSMEs under the Kerala brand, and an e-commerce portal would be launched to market products, apart from setting up a chain of supermarkets, he said. Steps would be expedited to establish the proposed carbon-neutral coffee park on 20 acres in Wayanad, he added.

The government planned to set up 3,687 enterprises in the district of which 2,797 were established in the current financial year, through which a sum of ₹167 crore was invested in the sector, and 5,903 job opportunities were created, said the Minister.

As many as 38 complaints from entrepreneurs pertaining to land and bank loans and repayment were considered during the meet, and 14 complaints were settled.