India’s Kerala Govt’s Master Plan to Enhance Vizhinjam Port for Industrial Growth

Kerala Industries Minister P. Rajeeve announced plans for a comprehensive master plan to maximize the potential of Vizhinjam port for various sectors during the ‘Conclave on Continuing Investments’ organized by KSIDC and the Department of Industries & Commerce. The master plan is in its final stages and aims to strategically benefit industries such as medical technology, electronics, and manufacturing. Around 282 entrepreneurs who have invested over Rs 5 crore in the state in the last three years attended the meeting.

Rajeeve mentioned that the government will reimburse 25% of the equipment purchase cost and provide incentives of up to Rs 25,000 crore to priority sectors identified in the Industrial Policy 2023. Investors from different sectors expressed their support for KSIDC’s initiatives and acknowledged the government’s assistance in establishing their businesses. The meeting highlighted the government’s efforts to promote investments and facilitate growth across various industries, with a focus on utilizing the potential of Vizhinjam port.

The state government’s initiative to develop a master plan for Vizhinjam port showcases their commitment to boost economic growth and create opportunities for different sectors. By providing incentives and support to investors, the government aims to attract more investments and promote the growth of industries like medical technology, electronics, and manufacturing. The meeting emphasized the importance of collaboration between the government and entrepreneurs to bring about sustainable development and maximize the potential of Vizhinjam port for the benefit of the state’s economy.

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