One lakh MSMEs launched for second successive year under entrepreneurship year initiative, says Industries Minister

March 13, 2024 06:14 pm | Updated 07:23 pm IST - THIRUVANANTHAPURAM

More than one lakh micro, small and medium enterprises (MSMEs) were launched for the second successive year in Kerala under the Industries department’s entrepreneurship year initiative, Industries Minister P. Rajeeve has said.

Addressing a press conference here on Wednesday, he said an investment of ₹6,712 crore has been generated and 2.1 lakh jobs created through these MSMEs.

Over two years 2.4 lakh MSMEs have been launched in the State with a total investment of ₹15,138.05 crore and creation of 5.10 lakh jobs. Out of these, 76,377 are MSMEs led by women. The State government has decided to continue the entrepreneurship year initiative for the second year considering its success in the launch year.

To provide the necessary support to entrepreneurs, trained professionals had been appointed in local bodies across the State. MSME clinics are also being organised to address entrepreneurs’ issues. A helpdesk is also set up monthly by a chartered accountants’ organisation to help entrepreneurs in filing GST returns. A special scheme to enable loan up to ₹10 lakh for 4% interest rate also was launched as part of the scheme. The support system has ensured that as many as 15% of the MSMEs which would have normally closed down were protected, said Mr. Rajeeve.

Over 20,000 MSMEs were launched in the districts of Ernakulam, Kollam, Thiruvananthapuram, Malappuram, Thrissur and Palakkad.