This southern State of Kerala
is known more for its militant labour unions and lack of industries. Tourism
thrives here and the State is also referred to as “God’s Own Country”.
Malayalis, as the people of Kerala are known, have migrated in droves to almost
all parts of the world. NRI deposits in Kerala have now crossed the magic mark
of Rs 1 lakh crore, soaring by more than 17pc from Rs 93,884 crore to Rs 1.1
crore (at the end of 2014-15) in the space of just one year, according to data
collected by the state level bankers committee (SLBC). This includes money from
all parts of the world. The Reserve Bank of India (RBI) data shows that there
was a little over $115 billion in NRI accounts in India, which is about Rs 7
lakh crore. Kerala accounts for roughly a sixth of all the money deposited in
Apollo Tyres Ltd., the leading
tyre manufacturer in India, acquired the Premier Tyres plant in Kalamassery and
converted it into a unit of the Apollo Tyres in North Kalamassery in 1995.It
also has a plant in Perambra, Thirussur. Another automotive company of repute
is Delphi Connection Systems India based in Kochi. Automobile company Kerala
Automobiles Limited (KAL) was incorporated in 1978 as a Government of Kerala
undertaking near the capital city of Thiruvananthapuram in a tiny village
called Aralumoodu, in Neyyattinkara taluk. The company manufactures Three
Wheelers (Diesel, Petrol & CNG) suitable for passengers and goods traffic
in the brand name of “Kerala” and are considered as most Eco-friendly vehicles.
But Kerala, being the
country’s most socially developed state with literacy rate of more than 90pc,
is an economic laggard. The state literally lives off remittances and it lacks
a manufacturing base.
According to the State’s Industrial
& Commercial Policy Amended-2015, Kerala has to deal with the issues of
preservation of environment while promoting manufacturing and other heavy
industries. Also, given its high population density and ecological sensitivity,
Kerala can encourage only those sectors that are non-polluting and
eco-friendly. Kerala registered 8.24 per cent growth rate in MSME in 2012-13
and the major contribution was from service sector. The government is clear in
its policy that it is keen to encourage growth of the Electronics Systems
Design & Manufacturing Sector, besides, Micro, Small and Medium Enterprises
Non-availability of large
chunks of contiguous land and its high price are the major hurdles faced by the
State in the implementation and execution of large industries. However, heavy
industries like engineering industry, automobiles and their ancillaries, have
potential because of good infrastructure
availability like cheap and quality power, well developed road network,
airports and seaports. Government will encourage industries that are
non-polluting, environmental / eco - friendly and with high employment
potential, it has stated in its policy.
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