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CM- The New Indian Express


Jan 23, 2023

By Express News Service

KOCHI: Claiming that the manufacturing sector in the state  is on a rebound, Chief Minister Pinarayi Vijayan said that the launch of  1,24,249 enterprises within the first 10 months of the current financial year  has debunked the allegation that Kerala is not industry friendly.

“These achievements debunk the allegations of people who try to tarnish the image of the state by portraying Kerala as hostile to industries.The government has been according high priority to encouraging startups, by facilitating 3,800 ventures and generating 40,000 jobs. The ventures got funds totalling Rs 5,000 crore. No wonder that Kerala became South Asia’s biggest startup innovation hub. Also, we topped the Affordable Talent rankings in Asia, while finishing fourth at the global level,” said Pinarayi while inaugurating the Mega Entrepreneurs Meet At Kaloor International Stadium in Kochi on Saturday.

He said political differences should not hamper the development of the state. The Union government has lauded Kerala’s ‘entrepreneurship year programme’ as the best practice. Though Kerala’s population is only 2.6% of the country’s population, the state contributes 4.2% of the country’s GDP.There are many modern manufacturing industries in the state.The contribution of the manufacturing industry to Kerala’s GDP was 7% in 2016, which has grown to 14% in 2021, said Pinarayi.

He added that the state’s finances are healthy  and around 64% of Kerala’s revenue comes from own income, which debunks the theory that the state survives on Central allocation “Some people allege that Kerala has landed in a debt trap. As per the data provided by RBI, the state’s public debt was 29% of GDP in 2016, which has grown to 37% in 2021. However, the debt burden of the Centre has grown from 47% of GDP in 2016 to 59% of GDP in 2021. Kerala’s growth indicators are better than the national average,” he said.

Industries minister P Rajeeve, who presided over the function said the state has set an ambitious goal of improving its ranking to get into the country’s first ten industry-friendly states. Revenue Minister  K Rajan said the government will continue with its focus on common man while charting out maps for the state’s economic development.

The Opposition UDF boycotted the entrepreneurs’ summit organised by industries department in Kochi on Saturday. Leader of Opposition V D Satheesan said that the state government’s claim that 1 lakh industrial enterprises have been started in the last year and more than 2 lakh jobs have been created is a ‘blatant lie’. “The government is attempting to mislead people by citing fake figures. According to the latest report of the Reserve Bank, Kerala is the state with the least number of industrial units in South India. The capital investment in industrial units was Rs 4.5 lakh crore in Tamil Nadu while it was Rs 0.76 lakh crore in Kerala. The industries department is trying to list out the enterprises that individuals start on their own by borrowing loans directly from banks to the account of the government,” he said here on Saturday.