Kerala was ranked second in the progress achieved in the industrial sector in the sustainable development index prepared by the United Nations and Niti Aayog in 2019. Before Pinarayi Vijayan was sworn in as the Chief Minister, the state was reported not to have an investment-friendly environment. However, the latest reports prove that the interventions made by his government have gone in the right direction and become fruitful. Investment in the state has increased and the public sector undertakings which were facing a crisis during the time of the previous government have now become profitable. Traditional industries have started recovering from the crisis. Small scale industries have also got strengthened. In all sense, Kerala has turned into a state with ample opportunities for industrial development and investment.
In 2015-16, during the tenure of the UDF government, the public sector companies had suffered a loss of Rs 131.60 crores. Within a year, the Pinarayi Vijayan government was able to reduce the loss into Rs. 71 crores. In 2017-18, the government could overcome the loss and make a profit of Rs. 106.91 crores. By that time, 14 industrial institutions were made profitable. Companies including Travancore Cochin Chemicals Ltd (TCC), Travancore Titanium, United Electrical Industries, Keltron, Kerala Minerals and Metals, Kerala Automobiles, etc. have made remarkable achievements. Kerala State Drug and Pharmaceuticals Ltd were rewarded by recognition from the World Health Organisation.
Kerala Automobiles Limited (KAL) made a great leap by earning the nod for the commercial production of electric three-wheelers. Kerala Neem G, the three-seater environment-friendly autorickshaw manufactured by KAL, is the first public sector undertaking to get approval in India.
The government sanctioned Kerala Investment Promotion and Facilitation Act to promote the concept – Ease of Doing Business. Kerala is the first state in the country to introduce such a law amendment to improve the business environment. The state also introduced K-Swift, a single window interface for fast and transparent clearance of bills and permits to start a new business.
Many initiatives have been introduced to develop proper infrastructure for attracting investments to the state including huge projects like Life Science Park, Mega Food Park, Light Engineering Industrial Park, Electronic Hardware Park, etc. Within the first 1000 days of the government, more than 36000 MSMEs started their operations and generated 1.3 lakh jobs. It brought about new investments up to Rs 3250 crores.
The growth of the industrial sector is quite evident now. With the will to implement the policy decisions without any fail, Pinarayi Vijayan has instilled new energy in the industrial sector which was going through a staggering phase a few years ago.
