SME Times is powered by   
Search News
Just in:   • Tesla all set to drive into India market with first showroom in Mumbai  • Indian mining and construction industry sees 2-5 pc growth in Q1: Report  • Sensex, Nifty open higher amid positive domestic cues  • TN yarn manufacturers form association to revive struggling sector amid rising costs  • Committed to nurture next-gen innovation in 6G technology: Jyotiraditya Scindia 
Last updated: 26 Apr, 2022  

Kerala.9.Thmb.jpg Startups a vital component of Kerala economy, says Finance Minister

Kerala.9.jpg
   Top Stories
» Tesla all set to drive into India market with first showroom in Mumbai
» Sensex, Nifty open higher amid positive domestic cues
» TN yarn manufacturers form association to revive struggling sector amid rising costs
» Committed to nurture next-gen innovation in 6G technology: Jyotiraditya Scindia
» Piyush Goyal holds talks with Malaysian minister on review of ASEAN trade pact
SME Times News Bureau | 26 Apr, 2022
Kerala Finance Minister K.N. Balagopal on Tuesday said startups have a major role in strengthening the state's economy as leveraging their innovative ideas can lead to remarkable growth in various sectors.

In his address after inaugurating the ABusiness to Government (B2G) summit, organised by Kerala Startup Mission (KSUM), as a platform for startups to showcase a wide range of products and services required by the government departments and the public sector undertakings (PSUs), he said: "Startups are a vital component of the Kerala economy .

"Startups can also contribute immensely to the growth of all key sectors, including healthcare and animal husbandry."

"The government is planning to enhance the ceiling on purchase of products and services from startups. Now, startup products and services of up to Rs 20 lakh can be directly procured and those costing from Rs 20 lakh to Rs 1 crore can be procured through a limited tender process. The government is planning to increase the ceiling of limited tender from Rs 1 crore to Rs 3 crore," Balagopal added.

Citing the economic turmoil in Sri Lanka, he said the trouble faced by the island nation is a reminder of the need for developing a strong local economy since a reverse trend of globalisation is happening currently.

He pointed out that startups must learn to grow beyond their initial run of success and the government is duty bound to help startups coming up with innovative ideas. About Rs 97 crore has been set apart in the budget for startups apart from the Rs 250 crore as Venture Capital fund, he said.

KSUM is the nodal agency of the Kerala government for entrepreneurship development and incubation activities in the state.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
84.35
82.60
UK Pound
106.35
102.90
Euro
92.50
89.35
Japanese Yen 55.05 53.40
As on 12 Oct, 2024
  Daily Poll
Do you think Indian businesses will be negatively affected by Trump's America First Policy?
 Yes
 No
 Can't Say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter