Schedule a Call Back
Kerala govt unveils incentives for MSMEs under Mission 1,000 initiative
Industry News- Oct 16,23
As part of this initiative, the government has given the green light to the industries department's proposal, which includes a range of incentives to bolster the growth of 1,000 MSME units in the state.
The government has unveiled a significant boost for Micro, Small, and Medium Enterprises (MSMEs) through its Mission 1,000 initiative under the 'Make in Kerala' program. As part of this initiative, the government has given the green light to the industries department's proposal, which includes a range of incentives to bolster the growth of 1,000 MSME units in the state.
One of the pivotal benefits offered is a substantial 40% capital investment subsidy, capped at Rs 2 crore, aimed at fuelling the growth of selected MSMEs. Additionally, there will be an interest subvention for working capital loans, covering 50% of the interest rate, limited to Rs 50 lakh, over a period of four years. To further support these enterprises, an officer from the industries department will provide personalized guidance and assistance to ensure their success. The ultimate goal of this initiative is to elevate these MSMEs, helping them achieve a combined turnover of Rs 1 lakh crore within a span of four years.
Source: newindianexpress.com
Kerala
Government
MSMEs
Mission 1
000 Initiative
Make in Kerala
Capital Investment Subsidy
Interest Subvention
Industries Department
Related Stories
Policy Regulation
Funding MSMEs During Economic Flux
Micro, Small, and Medium-sized Enterprises (MSMEs) are the backbone of India’s economy, contributing 30 per cent to the nation's GDP and 45 per cent to its exports.
Read morePolicy Regulation
Will revised MSME classification solve their funding puzzle?
Only 14 per cent of credit needs of Micro, Small and Medium Enterprises (MSMEs) - the backbone of India's economy - are met through formal channels. The revised MSME classification may mark a pivota..
Read morePolicy Regulation
Will the US tariff war add to MSMEs’ funding woes?
While Micro, Small and Medium Enterprises (MSMEs) continue to face barriers in accessing funds (due to high collateral norms, lack of credit history, slow approvals, etc), the new tariff war could a..
Read moreRelated Products
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
