IANS | 27 Jun, 2023
In a boost to the Micro, Small, and Medium Enterprises (MSME) in
Kerala, state Law, and Industries & Coir Minister P. Rajeeve on
Tuesday announced that an insurance scheme for the segment will be
rolled out soon, with the state government bearing 50 per cent of the
premium with a monetary cap.
Making the announcement while
inaugurating the International MSME Day celebrations here, he also
unveiled other schemes that will rev up the MSME sector considering its
vital role in the state’s economic development.
“We will provide
Rs 1 lakh each to 1,000 MSME ventures of more than three years of
existence for preparing scaling up projects. As part of this, up to Rs 2
crore will also be given as capital investment for approved projects,”
said Rajeeve.
As part of the ambitious One Local Body One Product
(OLOP) project, launched during the ‘Entrepreneurship Year,’ the
Department of Industries and Commerce will provide Rs. 50,000 each to
Local Self Government Institutions (LSGIs) to meet the expenses for
preparing the detailed project reports (DPRs).
The government also
plans to institute annual awards for the best MSME unit and panchayat
besides developing a software that can detect the problems being faced
by MSMEs in their functional areas is also under active consideration,
said the Minister.
Another scheme on the anvil is for encouraging
entrepreneurship at a young age and for that a proposal to grant Campus
Industrial Park status to engineering colleges having at least five
acres of land at their disposal is also being considered.
Rajeeve
added that the MSME sector has made the state proud through the
outstanding achievement of starting around 1,39,840 ventures last year.
