Kerala Revolutionizes MSME Registration: One-Minute Setup Process Unveiled
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Now, Set Up An Msme In Just A Minute In Kerala: Industries Minister | Thiruvananthapuram News - Times of India
Thiruvananthapuram: It takes only one minute for an MSME to start in Kerala, as the state now has a highly conducive industrial ecosystem that received the top ranking in the latest Ease of Doing Business rating, said industries minister P Rajeeve. The minister was interacting with industry leaders in Bengaluru during a roadshow organized by Kerala State Industrial Development Corporation (KSIDC) in association with Confederation of Indian Industry (CII) on Thursday. "The facts are far from the general presumption that Kerala is not suitable for industries," he said, showcasing Kerala's highly enabling ecosystem for a wide range of enterprises and state govt's recent initiatives to enhance ease of doing business. "When the current govt took office, Kerala ranked 28th in ease of doing business. But, after implementing several reforms and a new industrial policy, we accomplished 'Top Achiever' position in most reform areas in ease of doing business," said Rajeeve. "By incorporating the advantages and factoring in barriers, we adopted a new industrial policy with the motto 'nature, people, industry'. We are focussing on knowledge-based industries with 22 priority sectors, including AI, blockchain technology, graphene, big data analytics, machine learning, aerospace and defence," he added. He said the Kerala centralised inspection system enabled randomized software-driven scheduling of statutory inspections on an enterprise. The report is uploaded in the public domain within 48 hours of the inspection. "As part of the 'Year of Enterprises' initiative, within two years and six months, we could establish 2,90,000 MSMEs with an investment of over Rs 18,000 crore. Of these, 92,000 are women entrepreneurs and 30 transgenders. Every district has an MSME clinic where investors can get advice. There is an insurance scheme with govt paying 50% of the premium," he said. "Institute of Chartered Accountants of India offered free service for the first year after the establishment of a unit to prepare GST returns and financial statements. We now have a K-store connected with ration shops to sell MSME products. MSME products worth Rs 9 crore was sold through the stores. Not a single factory was disrupted by workers' agitation in 25 years, thus showing that the state's industrial landscape has turned investor-friendly," said Rajeeve. The Bengaluru event was part of a series of Kerala Industrial Roadshows to attract investments in the areas of aerospace, artificial intelligence, defence, robotics, biotechnology, electric vehicles, food processing, information technology, logistics, maritime business, shipbuilding, medical instruments and equipment, packaging, research and development, waste treatment and renewable energy sources.
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It only takes one minute to start a venture in Kerala: Industries Minister
Kerala Minister for Industries P. Rajeeve speaking at a roadshow organised by the Kerala State Industrial Development Corporation in partnership with the Confederation of Indian Industry in Bengaluru on Thursday. It only takes one minute for a Micro, Small and Medium Enterprise (MSME) to start a venture in Kerala as the State now has a highly conducive industrial ecosystem, said Kerala Minister for Industries, Coir, and Law P. Rajeeve. The Minister interacted with industry leaders during a roadshow organised by Kerala State Industrial Development Corporation in partnership with the Confederation of Indian Industry here on Thursday. "The facts are far away from the general presumption that Kerala is not suitable for industries," Mr. Rajeeve said. Number one position The Minister highlighted how Kerala has achieved the number one position in ease of doing business in the country. "Regarding ease of doing business, Kerala was ranked 28th position at the time we (the present government) assumed office. But, after implementing several reforms and bringing in a new industrial policy, we were able to achieve 'top achiever' position in most number of reform areas in ease of doing business," he said. "By incorporating the advantages and factoring in barriers, we have adopted a new industrial policy with the motto 'nature, people, industry,' where nature and people come first. We are focusing on knowledge-based industries with 22 priority sectors, including artificial intelligence, blockchain technology, Graphene, big data analytics, machine learning, aerospace and, defence," Mr. Rajeeve pointed out. "As part of the 'Year of Enterprises' initiative of the government, within 2 years and 6 months, we were able to establish over 2,90,000 MSMEs in Kerala, with an investment of over ₹18,000 crore. Out of this, 92,000 are women entrepreneurs and 30 transgender persons," the Minister said. Citing the example of the Cochin Shipyard Limited, the Minister mentioned that not a single factory was disrupted by workers' agitation in the past 25 years in Kerala, which clearly shows that the State's industrial landscape has turned totally investor-friendly and adaptive. Published - September 21, 2024 12:13 am IST Read Comments
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It only takes one minute to start a venture in Kerala: Industries Minister
Kerala govt denies reports regarding misuse of Wayanad disaster relief fundsIt only takes one minute for an MSME to start a venture in Kerala as the state now has a highly conducive industrial ecosystem, according to the State's Minister for Industries, Coir, and Law P Rajeeve. The Minister interacted with industry leaders during a roadshow organised by Kerala State Industrial Development Corporation in partnership with the Confederation of Indian Industry here on Thursday. "The facts are far away from the general presumption that Kerala is not suitable for industries," Rajeeve said. The Minister highlighted how Kerala has achieved the number one position in ease of doing business in the country. "Regarding ease of doing business, Kerala was ranked 28th position at the time we (the present government) assumed office. But, after implementing several reforms and bringing in a new industrial policy, we could achieve 'Top Achiever' position in most number of reform areas in Ease of Doing Business," he said. "By incorporating the advantages and factoring in barriers we have adopted a new industrial policy with the motto 'nature, people, industry,' where nature and people come first. We are focusing on knowledge-based industries with 22 priority sectors including AI, blockchain technology, Graphene, big data analytics, machine learning, aerospace and defence," Rajeeve pointed out. "As part of the 'Year of Enterprises' initiative of the government, within 2 years and 6 months, we could establish over 2,90,000 MSMEs in Kerala, with an investment of over Rs 18,000 crore. Out of this, 92000 are women entrepreneurs and 30 transgenders," the Minister said. Citing the example of the Cochin Shipyard Limited, the Minister mentioned that not a single factory was disrupted by workers' agitation in the past 25 years in Kerala, which clearly shows that the state's industrial landscape has turned totally investor-friendly and adaptive.
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It only takes one minute to start a venture in Kerala: Industries Minister
"The facts are far away from the general presumption that Kerala is not suitable for industries," Rajeeve said. The Minister highlighted how Kerala has achieved the number one position in ease of doing business in the country. "Regarding ease of doing business, Kerala was ranked 28th position at the time we (the present government) assumed office. But, after implementing several reforms and bringing in a new industrial policy, we could achieve 'Top Achiever' position in most number of reform areas in Ease of Doing Business," he said. "By incorporating the advantages and factoring in barriers we have adopted a new industrial policy with the motto 'nature, people, industry,' where nature and people come first. We are focusing on knowledge-based industries with 22 priority sectors including AI, blockchain technology, Graphene, big data analytics, machine learning, aerospace and defence," Rajeeve pointed out. "As part of the 'Year of Enterprises' initiative of the government, within 2 years and 6 months, we could establish over 2,90,000 MSMEs in Kerala, with an investment of over Rs 18,000 crore. Out of this, 92000 are women entrepreneurs and 30 transgenders," the Minister said. Citing the example of the Cochin Shipyard Limited, the Minister mentioned that not a single factory was disrupted by workers' agitation in the past 25 years in Kerala, which clearly shows that the state's industrial landscape has turned totally investor-friendly and adaptive. PTI AMP RS RS
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Kerala's Industries Minister P Rajeeve announces a groundbreaking initiative allowing Micro, Small, and Medium Enterprises (MSMEs) to be registered within one minute. This move aims to boost entrepreneurship and ease of doing business in the state.
Kerala's One-Minute MSME Registration
In a groundbreaking move, Kerala has introduced a revolutionary system that allows entrepreneurs to register their Micro, Small, and Medium Enterprises (MSMEs) in just one minute. This initiative, announced by Industries Minister P Rajeeve, marks a significant leap in the state's efforts to promote ease of doing business and foster entrepreneurship
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.Streamlined Process and Digital Innovation
The new system leverages digital technology to simplify the registration process dramatically. Entrepreneurs can now complete the entire procedure online, eliminating the need for physical paperwork or visits to government offices. This streamlined approach is expected to save time and reduce bureaucratic hurdles that often discourage potential business owners
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.Comprehensive Support System
Beyond the rapid registration process, Kerala has implemented a robust support system for new enterprises. The state government has established a network of 1,153 Local Self Government Institution (LSGI) level help desks to assist entrepreneurs. These help desks are staffed with 1,415 trained personnel who provide guidance on various aspects of starting and running a business
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.Impressive Results and Future Prospects
The impact of this initiative has been immediate and substantial. Since its launch, over 1,24,000 MSMEs have been registered in Kerala, with 22,000 enterprises added in the current financial year alone. This surge in registrations demonstrates the policy's effectiveness in encouraging entrepreneurship and economic growth in the state
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Broader Economic Implications
Minister Rajeeve emphasized that this initiative is part of a larger strategy to transform Kerala into a vibrant investment destination. The state aims to create a business-friendly ecosystem that attracts both domestic and international investors. By simplifying the MSME registration process, Kerala is positioning itself as a leader in promoting ease of doing business in India
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.Challenges and Future Developments
While the one-minute registration process is a significant achievement, experts suggest that the real test lies in sustaining this efficiency throughout the business lifecycle. The government is working on additional reforms to address potential challenges in areas such as licensing, permits, and regulatory compliance. These ongoing efforts aim to ensure that the initial ease of registration translates into long-term business success
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