Kerala's new draft industrial policy, set to be officially unveiled by Industries Minister P. Rajeeve on Thursday, promises a host of incentives aimed at attracting investments, promoting employment generation, and fostering entrepreneurship.
The new policy, coming after a gap of four years, focuses on the State's traditional sectors as well as the sunrise sectors including Artificial Intelligence, hi-tech farming, value added rubber products, medical equipment, biotechnology, graphene, electric vehicles, and robotics.
The major incentives proposed include 10% investment subsidy on fixed capital for non-MSMEs, subject to a maximum of ₹10 crore and 100% State GST reimbursement for capital investment for five years for non-MSMEs. Annually, the government will subsidise 50% of the stipend for 1,000 apprentices, subject to a maximum of ₹5,000 per apprentice for six months. Another major incentive will be the 100% electricity duty exemption for MSMEs for five years.
