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Malappuram top performer in new business launches this year

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Malappuram is the top hub for new entrepreneurs in the state as 9295 new ventures have come up in the district bringing in an investment of Rs 646.46 crore so far in the financial year 2022-2023.

As per the latest data with the Department of Industries & Commerce, the new ventures in Malappuram has created 21566 jobs while Thrissur in second position recorded opening of 9222 enterprises during the same period, bringing an investment of Rs. 480.29 crore providing employment to 19544 people. Though Ernakulam is in the third place with 9079 enterprises, the district tops the chart in value terms with an investment of Rs. 768.63 crore. Ernakulam also comes first in employment generation at 22109.

District-wise performance is given below:

Rank DistrictNumber of enterprisesInvestment (Rs in Crore)Employment Generated

Source: Directorate of Industries And Commerce

Top business sectors in terms of investment are trade, followed by agro food, beverage, meat/ fish product and processing, garments and textiles, tailoring, boutique, apparel designing, ornaments, electrical & electronics products and services, IT and mobile hardware, cable TV, and internet.

The financial year 2022-23 has been celebrated as ‘Year of Enterprises’ by the state government, which is targeting to achieve one lakh new MSMEs during the financial year 2022-23. Since April 2022, a total of 91422 new business units have been started in the state, bringing in an investment of Rs. 5630.4 crore. In total, 19,9546 jobs have been created by these new entities.

The data definitely points to an improved business climate in Kerala with the state government working hard towards scaling up the Ease of Doing Business parameters in the state.

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