KSIDC – Making Kerala Investor Friendly
The Kerala State Industrial Development Corporation or KSIDC is a state government initiative formed in 1961 as a part of the central government initiative for promoting industry and investment in the state. Over the course of these 50+ years, KSIDC has been playing a significant role in the industrial and investment sector in the state. KSIDC focuses in three significant areas – promotion of Kerala as a dream destination for investors, facilitation of funding, and investment. KSIDC acts as the right hand of the state government to promote investment opportunities in Kerala, and it has served as a backbone for many highly successful ventures in Kerala. Geojit BNP Paribas, CGH Earth, Cochin International Airport Ltd, Lakeshore Hospital, and Nitta Gelatin are few of those highly successful ventures promoted by KSIDC.
Paving The Path For Industrial Development
As per a central government directive, the Government of Kerala has authorized KSIDC for setting up four Industrial Growth Centers in Kerala. Work is already underway for the development of these centers at Kuthuparamba in Kannur District, Kinalur in Kozhikode District, Panakkad in Malapuram District and Cherthala in Allapuzha District. These Industrial Growth Centers or IGCs would be providing the essential services such as water, power, roads, buildings, communication facilities and effluent treatment plants for entrepreneurs to build their industries. IGCs will act as exclusive hubs for the industrial development of the entire region surrounding them.
Along with IGCs, KSIDC is also developing a Life Sciences Park in Trivandrum, and almost 260 acres of land has been identified at Veiloor Village in Trivandrum for this purpose. Once completed, this Life Sciences Park would address the needs of the rapidly emerging life sciences industry and it is expected to attract investments, both domestic and foreign, in the related areas.
Another main impending project assisted by KSIDC that would attract investors is the Electronic Hub at Kochi. For the development of the Electronic Hub, 330 acres of land has been identified at Kochi. This Electronic Hub would be offering world-class facilities for manufacturing, contract manufacturing, R&D and fabrication units in the electronics sector.
Towards an investor friendly Kerala
One of the main objectives of KSIDC is to act as the bridge between the state government and the investor. KSIDC offers help and guidance at all stages of a particular project, such as identification of business opportunities, market surveys, project report preparation, turnkey project management services and technology tie-ups or project escort services. It is no doubt that KSIDC’s expertise and experience is beneficial for the investor. Term loans and Equity Participation are also offered to the investors by KSIDC, and expansion and diversification of existing units is nurtured. KSIDC has identified five sectors where opportunities abound and those sectors include infrastructure, logistics, retail, infotainment and education. At present, KSIDC is the nodal agency for several initiatives of the State Government, including single window clearance. We can say for sure that KSIDC is like a single contact point for investors.
It is a fact that Kerala has almost everything in stock that is sufficient to satisfy the needs of an entrepreneur. Kerala, the investor friendly state, has three international airports, an international container trans-shipment terminal and its connectivity is far superior to that of any other Indian state. Kerala has a unique human resource pool that has made its mark in almost every country in the world.
Kerala is one of the best industrial and social infrastructures in the nation. KSIDC has energized the spirit of entrepreneurship, and has promoted over 614 projects with an investment outlay of Rs. 4,848 crores and thus providing employment to 71,100 persons. In addition to that, KSIDC has been a brand ambassador of the state as well as provides a link between the world and Emerging Kerala.