Kerala has attracted a whopping ₹44,000 crore investment from domestic entrepreneurs in just three and a half years, revealed State Industries Minister P. Rajeeve on Monday. The announcement came during the inauguration of an exclusive conclave for entrepreneurs investing between ₹100 and ₹500 crore, organised by the Kerala State Industrial Development Corporation (KSIDC). The event serves as a precursor to the Invest Kerala Global Summit, set to take place in Kochi on February 21-22, 2025.

Since 2021, 696 new enterprises have sprung up in Kerala, each investing over ₹1 crore. Of these, 203 businesses brought in investments exceeding ₹100 crore, collectively contributing ₹15,925.89 crore.

The entrepreneurial spirit in Kerala reached new heights during the 2022-23 Entrepreneurial Year, with 3,43,083 enterprises established, attracting ₹21,299 crore in investments. These ventures have created seven lakh jobs, with women entrepreneurs making up 31% of the contributors.

Rajeeve informed that Kerala is becoming a hotspot for foreign investors, and highlighted the growing interest of international companies in exploring new sectors in the state.

The state’s proactive approach and transparent industrial policies have fuelled this growth. The State Industrial Policy 2023 highlights 22 priority sectors for investment, ranging from technology to tourism.

“Taking full advantage of this favourable situation, we’ll initiate discussions on new sectors offering massive investment potential,” the minister said. His remarks came via a press release from KSIDC.

The minister also discussed the importance of events like the Invest Kerala Global Summit in enabling dialogue and identifying investment opportunities. “Sectoral conclaves, roadshows, and investor meets are paving the way for Kerala’s industrial renaissance,” he added.

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“Programmes like investors’ meet, sectoral conclaves, and roadshows are going on to provide an opportunity to identify potential areas much in advance,” he said.

Rajeeve called on entrepreneurs to become ambassadors of Kerala’s vibrant industrial sector, ensuring its continued growth and competitiveness.

Kerala is also encouraging entrepreneurship with subsidies and incentives. Principal Secretary (Industries) APM Mohammed Hanish urged aspiring business owners to capitalise on the state’s industry-friendly policies.

KSIDC Chairman Balagopal C, who gave the keynote address, said that the future of an enterprise is as important as its startup phase and the government and KSIDC are committed to offering long-term support to ensure businesses thrive.

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