Kerala Industry Department is planning to establish one lakh Micro, Small, and Medium Enterprises (MSMEs) in 2022.
State Industry Minister P Rajeeve. Kerala will celebrate this year as the ‘Year of Entrepreneurs’, Rajeeve said while attending a meeting of the Non-Resident Keralites Affairs (NORKA) department on Friday saying they will establish one lakh Micro, Small, and Medium Enterprises (MSMEs) in 2022.
“The Government aims for one lakh MSMEs this year as part of celebrating 2022 as the ‘Year of Entrepreneurs’ to encourage and promote more small and medium level entrepreneurs in the State,” he said.
The meeting, also attended by NORKA chairman P Sreeramakrishnan, announced its decision to provide loans with low interest to Non-Resident Keralites (NRKs) entrepreneurs in cooperation with the Kerala Bank and the State-level Bankers Committee, according to an official statement.
It further declared that the department will be ensuring to provide government subsidies to support these MSMEs. About 3,500 MSMEs have been established by the NRI entrepreneurs with the support of the Industry and NORKA departments.