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Mini Chapters | Economics | India | Volume 12 Issue 2, February 2023 | Popularity: 4.9 / 10

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Addressing Industrialisation through Industrial Policy Reforms in Kerala

Dr. Sindhu P K

Abstract: The importance of industrialization for a balanced development of the state has been the objective of the government of Kerala as well reflected in the policy measures taken in five year plans and industrial policy statements. Policy measures have been framed in order to promote and also to revive industries in the state according to the need of the time. Some policy changes like that of industrial policy reforms of 1991 were significant in bringing about structural changes in the industrial sector. The industrial base has been widened substantially and so is the range of industrial products. Aspects like fostering entrepreneurships, development of technological capabilities and skills, digitalization maintaining ecological balance are also streamlined as conducive for rapid industrialization. The industrial policy reforms of the state of Kerala have been modified and updated to incorporate these changes to bring forth much required impetus to the industries and develop a favourable industrial climate in the state. Ease of doing business is one of the important criteria for examining the investment climate in the economy nowadays. As per the assessment of Department of Policy and Promotion, the state of Kerala was included in the category jump start needed with a rank of 21 among the states in 2019. The state Government have been consistently trying to improve industrial climate in the state and the industrial policy reforms have been modified keeping in view the different parameters matching national and international standards. Consequently, the state has improved its position to 15th rank in 2020 (SBRAP, 2020) based on implementation and feedback scores (KSIDC, 2022). This paper intends to throw light on the journey of the state of Kerala through the industrial policy reforms, implementation of which helped the state to improve its position after long years of policy making.

Keywords: Kerala, industrial policy reforms, industrial growth

Edition: Volume 12 Issue 2, February 2023

Pages: 1658 - 1661

DOI: https://www.doi.org/10.21275/SR23226072328

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