Industrial Policy

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Investment Initiatives
invest kerala

Industrial Investment Initiatives

Industrial Policy is the set of standards and measures set by the Government to evaluate the progress of the manufacturing sector that ultimately enhances economic growth and development of the country. The government takes measures to encourage and improve the competitiveness and capabilities of various firms. With the vision of responsible investment, the government is trying to attract more investment, bring in industries, and create job opportunities through this policy. By utilizing the potential of the fourth industrial revolution, Kerala will be made the center of new generation industries.

Fostering Enterpreneurship

The objective of the policy is to establish an enterprising entrepreneurship ecosystem that would aid in creation of self-employment opportunities leading to creation of aspirational jobs for all. The Department of Industries has already taken up various initiatives to promote entrepreneurship in the State including facilitating sufficient incubators, ease of access to credit, Skill development and training, investor facilitation centres, etc. To further enhance the entrepreneurial ecosystem in the State, the following key initiatives are identified under this policy pillar; Entrepreneur Support System: The presence of an enabling environment and support system is paramount especially to promote new entrepreneurs and cultivate an entrepreneurship culture. Entrepreneurship Funding Support: The existing Entrepreneurship Support Scheme and KSIDC’s Seed Fund Programme shall be enhanced to offer support to Non-IT Start-ups across different phases. Industry-Academia Research: This collaboration is key to catalyse innovation and growth in technology. Technology is evolving at a rapid pace and such technological and managerial innovation forms a key aspect of Industry 4.0. Sector-focused Fab Labs in Industrial Parks: The presence of enabling and State-ofthe-art infrastructure are important to facilitate new and emerging enterprises. a. Sector-focused Fab labs shall be set up at existing Industrial Parks in the State

Industrial Investment Initiatives

Robust and resilient infrastructure is essential for promoting industrial growth. The quality of infrastructure determines an economy’s competitiveness and its ability to utilise its comparative advantage. The upcoming projects like the Kochi Bengaluru Industrial Corridor will fuel economic growth and generate employment opportunities by stimulating investments in the manufacturing sector, logistics sector, Agro processing services and export-oriented units. This industrial policy aims at creating enabling industrial infrastructure facilities in the State and upgradation of existing infrastructure for Industries.

 

Policy Objectives

The new Industrial Policy aims to foster a conducive and sustainable industrial ecosystem that brings about investment and innovation. The objectives of the policy are as follows;

  • To build a robust entrepreneurial ecosystem in the State.
  • To make Kerala a thriving Start-up destination in India.
  • To nurture the entrepreneurial spirit of educated unemployed youth and women.
  • To create innovation infrastructure to cater to futuristic industries.
  • To maximise private investments in industrial infrastructure development.
  • To strengthen the public sector, other than those in the services domain, and make them more competitive. To implement timely changes in the manufacturing sector.
  • To achieve better growth in exports by strengthening infrastructure development in the commodity export sector.
  • To create an Industry 4.0 compliant industry ecosystem .
  • To modernise traditional industries by infusing new technologies in production process

Transition to HI-TECH

Digitalisation of Micro, Small & Medium Enterprises

Digitalisation and technology enablement in MSME sector would aid in attaining economies of scale, reduce resource use, improve energy efficiency, and improves the overall competitiveness of MSMEs.

Modernization in line with Industrial Revolution 4.0

Innovation is one of the key propellants of Industry 4.0. Hence it is key to create an enabling environment that fosters innovation. Multiple technology sectors shall be brought under this common platform to enable cross-pollination of ideas and technology breakthroughs.

Enabling access to Ecommerce Platforms

Leveraging Ecommerce platforms would enable SMEs to better benefit from digital transformation and improve economies of scale. MSMEs shall be facilitated for access to markets and e-commerce platforms.

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Last Updated on: 17 July 2024സന്ദ൪ശകരുടെ എണ്ണം : 3056822