MSME registrations surge as Kerala sets ambitious target for the current fiscal

Sanjeev Ramachandran June 17, 2022Last Updated: June 17, 2022

2 minutes read

As many as 13,137 MSME units registered till mid-June

After having set an ambitious target of establishing one lakh MSMEs in the current financial year, the Kerala government has successfully managed to register as many as 13,137 enterprises in the micro, small and medium sector in the first two-and-a-half months of fiscal 2022-23.

This has brought in an investment of Rs 982.73 crore so far this fiscal, giving employment to 30,698 people,” according to P. Rajeev, Minister for Industries. Sustained efforts to strengthen MSMEs have led to recruitment of 1,155 interns at the panchayat level to train entrepreneurs, he said adding that a major chunk of them are MBAs.

It may be noted that two recent laws have quickened the setting up of MSMEs in Kerala. Further, the Kerala Industrial Infrastructure Development Corporation (KINFRA) is working on a permanent exhibition-cum-convention centre in Kochi. This is likely to go on stream in October 2023.

The government opened a business-to-business meet christened ‘Vyapar 2022’ in Kochi, setting the stage for 350 entrepreneurs to strike partnerships with 500 buyers from across the country. Facilitating around 10,000 B2B meetings, the June 16-18 event is expected to boost the administration’s renewed pro-industry measures to project Kerala as a prime business destination.

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— Vyapar 2022 (@2022Vyapar) June 1, 2022

Four lakh jobs envisioned in MSME sector

According to S. Harikishore, Director, Industries and Commerce, Kerala is poised to realise its target of giving employment to four lakh people in the MSME sector. A major objective of Vyapar 2022 is to give an impetus to the pandemic-hit MSME units. The event provides them a platform to showcase the quality of their products, technological competence and skills before the industrial community.

Besides buyers from top commercial establishments, representatives of all-India trade and commercial organisations, business consortiums, e-commerce executives, exporters and consumers are converging at the conclave to make business deals.

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— Vyapar 2022 (@2022Vyapar) June 13, 2022

Impetus to the pandemic-hit MSME units

An expo at the event that exhibits the productivity of industry and presents the products that are branded or otherwise, also aims to encourage industries to boost their growth profile, kindle the interest of investors and highlight the role of MSMEs in the state’s economic growth.

The sectors in focus are food processing; handlooms, textiles and garments; rubber; coir products; Ayurveda and herbal; electrical and electronics; and traditional sectors that include hand-carved goods, handloom textiles and bamboo-based items.