The industrial scenario of Kerala has been changing rapidly in the past couple of years. The economy has also been getting huge benefits from its blossoming industrial sector. The state’s opportunities in its cottage industries have provided millions with their livelihood. There are some 1.8 lakh small scale industrial outfits and about five hundred and eleven medium sized and large scale industries in Kerala.
The strategic location of this coastal state had attracted foreign traders in past centuries for setting up their trade centres. In recent time also, owing to its rich mineral resources, Kerala have attracted many corporate giants to establish their units here.
The state is gaining tremendous success in electronic and IT industrial sectors, creating Thiruvananthapuram to be a preferred destination. There are two IT parks in Kerala one at Kochi (Info Park) and the other Techno Park at Thiruvananthapuram.
Kerala is also a preferred destination for travel and tourism. The breathtaking views of the lakes, the celebration of various festivals are all its sources of attractions. The tourism industry provides large economy to the state.
Industrial PolicyThe Government of Kerala has formulated a liberal industrial policy for the investors. The policy has been devised in such a way that it will open global opportunities for business to expand taking advantage of enormous young workforce and capabilities in assimilation of technological advancements. The vision of Kerala government is to make the state an investment friendly destination and also to create employment opportunities for the people in Kerala ensuring them fair wages.
Objectives * Convert Kerala into a favored destination for Manufacturing, Agro Processing, Health Services, Knowledge based Industries and Services.
* Enabling growth, revival and diversification of State Level Public Enterprises.
* Strengthening and modernization of Traditional Industries.
* Accelerating the fast growing Services and Commerce sector.
* To develop Kerala as a global centre of excellence with state of the art education and skill sets and preparing a pool of multi skilled, technically competent individuals and organizations.
* Creation of additional employment of 5 lakh persons in the manufacturing and service sectors.
* To sustain industrial and economic growth by facilitating accelerated flow of investment.
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Areas of industrial growth * Rubber based Industries
* Information Technology
* Agro based business including food processing
* Readymade Garments
* Ayurvedic medicines
* Mining
* Marine products
* Light Engineering
* Electronics
* Bio Technology
* Cottage Industries
* Tourism