Kerala Finance Minister K N Balagopal on Sunday said manufacturing industries are vital to India’s economic growth and asserted that Kerala is already witnessing steady progress in its industrial sector, backed by strong government support.
Speaking at the concluding session of the three-day India International Industrial Expo at Angamaly, Balagopal said the state government is taking all possible steps to promote industries and create a business-friendly ecosystem. The expo was organised by the Kerala State Small Industries Association (KSSIA) and Metromart, in collaboration with the Kerala Industries Department and the Union Ministry of MSME.
“Manufacturing industries are crucial for India. Kerala is recording steady growth in the industrial sector, and the government is making all efforts to support industries,” the minister said.
Highlighting the importance of technology-driven enterprises, Balagopal noted that industries adopting new technologies have shown remarkable growth. He said industrial exhibitions play a critical role in introducing advanced technologies to local industries and enhancing their competitiveness.
The minister also underlined major governance reforms aimed at improving ease of doing business in the state. “Kerala has gone a long way in ensuring ease of doing business. In the last ten years, the state has achieved what was once unimaginable,” he said, adding that licencing processes are now completed within hours through a single-window system.
Referring to infrastructure development, Balagopal said the Vizhinjam international seaport would significantly boost Kerala’s industrial and trade potential. He added that the state government has made crucial contributions to the development of the port, which is expected to emerge as a key economic driver.
Addressing concerns over finances, the minister said financial challenges have never hindered Kerala’s development, though pending dues from the Centre have created certain constraints. “The government has ensured that these issues never affect the development of the state or industries,” he said, noting that industries are being offered loans at low interest rates.
Balagopal also highlighted initiatives such as Work Near Home, stressing that industries are the primary job creators. He said the government has ensured essential infrastructure including roads, ports and streamlined approvals to support industrial growth, adding that many expatriates are now returning to Kerala to start enterprises with full government backing.
