Ease of Doing Business for MSMEs: Kerala Industries Minister, P. Rajeeve on Tuesday said that the state government has set up a target to scale up 1,000 micro, small and medium enterprises (MSMEs) and turn them into Rs 100 crore turnover companies in the next three years, as per a report by the Knowledge and News Network (KNN).
The minister was addressing the attendees during the inauguration of the B2B summit – Exploring Business Alliance – between the state and the central PSUs organised by the Industrial Department at Kochi.
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The ranking of Kerala in Ease of Doing Business index, based on multiple business parameters, has improved to 15th position this year from 28th rank last year, the minister highlighted.
On meeting the goal the state has set, he said, “Now we have plans to strengthen the MSME sector in Kerala. Our goal was to establish one lakh enterprises in the current financial year,” he added.
“As part of promoting enterprises, we recruited, 1153 qualified persons and used them at local bodies – one for one panchayat, two for municipalities and one for 20 divisions of a Corporation. We could achieve the goal within eight months,” informed the minister.
Moreover, the state government is outlining a plan for PSUs (Public Sector Undertakings) so that they become competitive and profit-making establishments.
Meanwhile, Kerala Chief Minister Pinarayi Vijayan in March said the target was to create 300,000 – 500,000 jobs in the MSME sector, FE had reported. It added that the government is also observing 2023-24 as the ‘year of enterprises’. The state had registered 17,300 MSMEs in the last financial year.