Trivandrum: A one-stop place for any investment in the state, Kerala State Industrial Development Corporation (KSIDC) has turned 62, playing a crucial role in transforming the state into a thriving investment destination over the last six decades.
The state’s premier industrial promotion agency, KSIDC was formed on July 21, 1961, as a government company for development agency activities and in 1998, KSIDC was registered as a Non-Banking Financial Company, under the Reserve Bank of India regulations.
As part of its core task of promoting and facilitating industrial development, KSIDC has financed scores of large and medium-scale industries including startups and women enterprises, besides creating the physical and social infrastructure for growth, by offering a comprehensive set of services.
As of last fiscal, KSIDC has facilitated cumulative sanction of loans worth Rs 4,468.86 crores to 989 industrial units and has provided direct employment to 98,522 persons through these units. Also, KSIDC has equity participation in 78 ventures, with a value of holding at Rs 800 crores. Since its inception, KSIDC has contributed immensely to formulating and implementing Kerala Government’s industrial policy from time to time, steadily raising the state’s ranking in Ease of Doing Business and attracting investment in multiple domains ranging from Information Technology to travel and hospitality sector.
A nodal agency for foreign and domestic investments, KSIDC facilitates clearances and processes various incentive schemes for starting new business ventures, provides financial support through term loans and equity, manages industrial growth centres and industrial parks, incentivizing investment and promoting investment by way of a slew of schemes like seed funds and scale-up assistance. KSIDC has facilitated the development and functioning of industrial parks in the state.
As a facilitator for credit, KSIDC provides loans up to Rs 60 crores to industrial ventures at an interest rate of 8-10%. Also, under the Chief Minister’s Loan Scheme, ventures being set up in Kerala are provided loans from Rs 1 crore to 5 crores at 5% interest.
“KSIDC has played a pioneering role in the industrial promotion of Kerala in the last six decades, by building on the state’s core strengths like geographical advantages, advanced social development indices, and educated and skilled human resources. Its interventions also helped in projecting the true profile of the state as an ideal investment destination”, said Paul Antony, Chairman, KSIDC.