Kerala Industrial Policy 2023
KNOW HOW KERALA IS SHAPING ITS INDUSTRIAL SECTOR
Kerala's new industrial policy aims to achieve an industry 4.0-ready ecosystem by 2028
Here are some key takeaways
Five-year electricity tax exemption for MSME industries
20% reimbursement of the cost of software, machinery, etc., subject to a maximum of Rs. 25 lakhs/unit
Reimbursement of 50% of the expenditure incurred subject to a maximum of Rs. 30 lakhs, for patent, copyright, trademarks, GI registration, etc.
A Venture Capital Fund shall be created collectively by Kerala Bank, KSIDC, KFC, and KSFE exclusively for startups and MSMEs, including for their R&D works, with a corpus of INR 200 Cr per year
Exemption in stamp duty and registration charges for women, Scheduled Caste, and Scheduled Class entrepreneurs.
Refund of 100% State GST share of fixed capital for non-MSME enterprises for a period of 5 years.
A world-class bioprinting lab will be started to establish Kerala's position in the field of 3D printing
A NanoFab will be established on a PPP model to utilize nanotechnology for industrial purposes.
Mini and multi-logistics parks will be established to enhance logistics connectivity.
An electronic manufacturing cluster and an electronic hardware park to be set up in the field of electronic system design and manufacturing.
An advanced battery manufacturing EV park will also be established. A special grant will be allocated for research in this field.