Kerala's MSME sector sees investments cross Rs 4,500 cr

The MSME (Micro, Small and Medium Enterprises) sector, often referred to as the backbone of a developing country, is looking bright in Kerala, state Industries Minister E.P. Jayarajan said on Wednesday.

Since the Pinarayi Vijayan-led Left Democratic government assumed office in 2016, as many as 52,137 MSME units of various scales and sizes have opened, he said.

"In this sector, since we came, more than Rs 4,500 crore was invested and it provided over 1.80 lakh jobs. In Kerala, the MSME sector is looking bright and we are looking forward for more and more investments. We are expecting non-resident Keralites, who are potential investors, to set up new units," Jayarajan said.

The proactive Vijayan government is doing everything to see that the ease of doing business is best in Kerala, he added.

"For encouraging new investors in the MSME sector, we have recently brought out a new law where up to an investment of Rs 10 crore, the investor can start their business venture by just filing an affidavit with the District Collector. They need not wait for getting the licenses and clearances and this they need to get it in six months after the three year period ends. This is done to see that investors do not waste time waiting for all clearances to come to start," Jayarajan said.

"But no units that fall under the red category of the State Pollution Board will be allowed," he said.

Jayarajan also pointed out that they will come out with success stories of MSMEs and also see that they push up the efforts for supporting the promotion and marketing of products manufactured by MSMEs.

He said that in Kerala, the various MSME sectors include electronics, food processing, rubber, coconut and value addition products. IANS