Top Business News in Kerala: Latest Updates and Trends
Kerala is a leading business hub in India, known for its diverse industries and rapid economic growth. From tourism to IT, Kerala has plenty of opportunities for entrepreneurs and investors. In this article, we’ll cover the latest updates and trends in the top business news in Kerala.
1. Tourism Industry
Kerala is one of the most popular tourist destinations in the world and continues to grow rapidly. According to a report by the Ministry of Tourism, Kerala witnessed a growth rate of 14.81% in domestic tourist arrivals during 2019. The state government has taken several initiatives to enhance the tourism infrastructure, including the launch of a new breakfast scheme, which offers free breakfast to tourists staying at government-approved hotels.
2. Information Technology
The IT industry in Kerala has also been growing rapidly in recent years. The state government has set up several IT parks and incubation centers to promote the growth of the IT sector. According to a report by NASSCOM, Kerala’s IT/ITeS industry revenue has grown to Rs. 23,500 crores, with a projected growth rate of 14% in the next five years.
3. Agriculture and Fisheries
Agriculture and fisheries remain a significant contributor to Kerala’s economy. The state government has introduced several schemes and initiatives to support small-scale farmers and fishermen, including the Mukhya Mantri Samagra Gram Yojana, which aims to promote sustainable and inclusive growth in rural areas. The government has also launched a mobile app called “Fish Farm” to help farmers and fishermen access real-time information on weather, market prices, and other relevant factors.
4. Infrastructure Development
Kerala has been investing heavily in infrastructure development, including several major road projects and the expansion of Kochi Metro. The state government has also launched several initiatives to promote affordable housing and improve urban infrastructure, such as the Pradhan Mantri Awas Yojana – Urban (PMAY-U) scheme.
5. Start-up Ecosystem
Kerala’s start-up ecosystem has been gaining momentum in recent years, with the state government creating an enabling environment for entrepreneurs. The Kerala Startup Mission (KSUM) is a government-backed incubator that provides support to start-ups, including mentoring, funding, and networking opportunities. According to the latest report by KPMG, Kerala has emerged as one of the top 5 start-up ecosystems in India.
Conclusion
These are just a few of the latest updates and trends in Kerala’s business news. The state has shown remarkable progress in various industries, including tourism, IT, agriculture, and infrastructure development. With the government’s efforts to create an enabling environment for entrepreneurs, Kerala’s start-up ecosystem is also on a steady growth trajectory. The business landscape in Kerala is evolving rapidly, and entrepreneurs and investors must keep a close eye on the latest trends and opportunities to stay ahead of the competition.
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