Kerala ‘Year of Enterprises’ Project
The Kerala government’s ‘Year of Enterprises’ project has been selected as a best practices model in the thrust on Micro, Small, and Medium Enterprises (MSMEs) session during the recent Chief Secretaries National Conference held in the national capital. The project, which began in the current fiscal, aimed at creating one lakh enterprises in one year. However, the state government achieved this goal in just eight months, setting a new benchmark for promoting small and medium-sized enterprises in India.
Creating Enterprises at an unprecedented scale:
The project was aimed at creating one lakh enterprises in one year and the state government achieved this goal in eight months. In November, as many as 1,01,353 enterprises were set up under the project, and the total investment stood at around Rs 6,282 crore. This is an unprecedented scale of creating enterprises in such a short period of time and showcases the dedication of the Kerala government towards promoting MSMEs in the state.
Efficient Infrastructure and Ease of Doing Business:
The Kerala government has made significant efforts to improve the infrastructure and ease of doing business in the state. The government has streamlined the process of starting and running a business, making it easier for entrepreneurs to get their ventures off the ground. In addition, the government has also provided easier access to land and other resources to entrepreneurs. These efforts have helped to create a conducive environment for MSMEs to grow and thrive in the state.
Financial Assistance and Training:
The Kerala government has set up a dedicated fund for MSMEs, which provides financial assistance to eligible businesses. In addition, the project also provides training and mentorship to MSMEs to help them improve their business skills and knowledge. This is an important aspect of the project as it helps to ensure that entrepreneurs are equipped with the necessary knowledge and skills to run their businesses effectively.
The project also provides networking opportunities for MSMEs through events and trade fairs. These events bring entrepreneurs in contact with potential investors, customers, and suppliers, which helps to expand their business network. This is crucial for the growth and development of MSMEs as it helps to increase their visibility and access to new markets.
The ‘Year of Enterprises’ project is expected to create job opportunities and boost the state’s economy. The state government’s target of creating 1 lakh new enterprises in the state over the next year is expected to lead to the creation of 2 lakh jobs. This is a significant step forward in promoting the growth of small and medium-sized enterprises in Kerala, which will have a positive impact on the state’s economy.
Month: Current Affairs - January, 2023
Category: States Current Affairs
Topics: Best Practices Model • Ease of Doing Business • Kerala • MSMEs • Year of Enterprises
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