Kerala Achieves Milestone: One Lakh New Enterprises Launched

Ernakulam district has emerged as the frontrunner in launching the highest number of ventures during the second phase of the Entrepreneurial Year initiative introduced by the state government. Over the past two years, Ernakulam has spearheaded the establishment of 24,466 enterprises under the Entrepreneurship Year program, showcasing remarkable entrepreneurial activity.

In the fiscal year 2023-24, Ernakulam witnessed the initiation of 10,338 enterprises across diverse sectors, attracting an investment of 1004 crores. Notably, these endeavors have generated 25,220 employment opportunities, with 1,326, 4,516, and 4,496 enterprises initiated in the production, service, and trade sectors, respectively. The range of sectors covered includes Agro Food, Automobile Service and Repair, Biotechnology, Building Materials Construction Architecture, Chemical Product, Drugs and Pharmaceutical Ayurveda, Electrical and Electronic, Energy and Renewable Energy, Garments and Textiles, General Engineering, Handle and Coir Handicraft, Information Technology Artificial Intelligence, among others. A significant aspect of this progress is the active involvement of women entrepreneurs, who have led 3,353 out of the 10,338 enterprises established in Ernakulam, contributing to the creation of employment opportunities for 9,099 women.

The state of Kerala, under the leadership of Industries Minister P. Rajeev, has achieved the milestone of launching over one lakh new enterprises for the second consecutive year. Through the Entrepreneurship Year 2.0 initiative, Kerala has witnessed the establishment of 100,257 enterprises, attracting an investment of 6,724 crore and creating 210,149 jobs. Recognizing its outstanding performance, the Ernakulam District Industrial Center has been honored with the prestigious award for the best district industrial center by the Department of Industry and Commerce, Government of Kerala, for its exemplary achievements in 2022-23. PA Najeeb, the General Manager of the Ernakulam District Industrial Center, attributed this commendable success to the government’s investment-friendly policies and the dedicated efforts of all departmental officials.