Kerala Industrial Policy 2023

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Kerala Industrial Policy 2023

The state of Kerala has formulated a new policy to accelerate its industrial growth and create more employment opportunities. This policy builds upon the previous policy from 2018, incorporating changes that align with the current times. With a focus on high-priority industries in the “sunrise” category, the policy aims to provide financial incentives and support to foster their development. Kerala’s exceptional achievements in education, healthcare, and quality of life have contributed to its economic prosperity. The state has invested in value-added industries such as chemicals, refined petroleum products, natural rubber, electronic products, pharmaceuticals, spices, and food processing, increasing its market share in these sectors.

Industrial Policy

      • 1

        Seven Focus Pillars

        • Fostering entrepreneurship

        • Enabling infrastructure

        • IR 4.0 ready with Robotic manufacturing, data analytical tools, etc.

        • Skillset upgradation for futuristic jobs

        • Sectoral ecosystems

        • ESG compliant

        • ‘Kerala’ brand

      • 2

        Focus Sector

        • Artificial Intelligence, Robotics and Other Breakthrough Technologies

        • Ayurveda

        • Biotechnology & Life Sciences

        • Design

        • Electric Vehicles

        • Electronic System Design & Manufacturing

        • Engineering Research & Development

        • Food Technologies

        • Graphene

        • High Value-Added Rubber Products

        • High-tech Farming and Value-Added Plantation Produce

        • Logistics & Packaging

        • Maritime Sector

        • Medical Equipment

        • Nano Technology

        • Pharmaceuticals

        • Recycling & Waste Management

        • Renewable Energy

        • Retail Sector

        • Tourism & Hospitality

        • 3D Printing

      • 3

        Incentives

        • Low interest loans

        • Capital subsidy incentive

        • Electricity Duty Exemption

        • Access to finance through IPO route

        • Investment subsidy

        • SGST reimbursement

        • Employment Enhancer Incentive

        • Waiver of Stamp Duty & Registration charges for manufacturing units

        • Private Industrial Estates

        • Incentive for participation in trade fairs

        • Intellectual Property creation

        • Quality certification incentive

        • Incentives for sustainability and responsible industrialization

        • IR 4.0 initiatives in manufacturing

        • R&D Incentive

        • Scale up incentive for Startups

        • Made in Kerala (Branding & Marketing)

        • Special package to attract PLI investors

        For more details Click Here 

 

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Last Updated on: 24 June 2024
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