Kerala to give instant approval for investments up to Rs 10 crores

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Trivandrum: As part of Kerala Government’s initiatives to enhance Ease of Doing Business environment, its widely-hailed web-based platform Kerala Single Window Interface for Fast and Transparent Clearance (KSWIFT) has been modified to facilitate immediate clearance for investment proposals up to Rs 10 crores.

Launching the upgraded KSWIFT portal here on Monday, Minister for Industries, Shri E P Jayarajan, said the State Government has been taking many earnests and proactive steps to improve the Ease of Doing Business environment in the State. The modified KSWIFT platform is a decisive step in that direction. “The live website will be a boon for entrepreneurs. There are 1,38,000 Micro, Small and Medium Enterprises (MSME) in Kerala and around 52,000 of them were set up after this government came into power. An investment of Rs 4,500 crore has come to this sector during this period.”

Envisaged as a single-window online interface between entrepreneurs and the government, the upgraded KSWIFT platform has expedited issuance of licences and approvals from all the government department and agencies after submission of investment proposals through a Common Application Form (CAF).

Dr K Ellangovan IAS, Principal Secretary, Industries; K Biju IAS, Director, Industries & Commerce; S Santhosh, CEO, Kerala Bureau of Industrial Promotion (K-bip); and Santhosh Koshy, MD, Kerala Industrial Infrastructure Development Corporation (KINFRA), were also present.

Presently, services of 15 Departments/ Agencies are available on the platform, sharply reducing the physical touch-points and bureaucratic delays, which had proved stumbling blocks in fast-tracking investment proposals in the past.

The government-entrepreneur relationship was strengthened by enacting the Micro Small Medium Enterprises Facilitation Act, 2019. This has exempted all projects having capital investments up to Rs 10 crores, and not falling under RED category as notified by the Pollution Control Board, from licenses, approvals, permits etc., under various Acts for the first three years.

Various initiatives were undertaken to improve Ease of Doing Business included publishing the omnibus Kerala Investment Promotion and Facilitation Act, 2018, amending the 7 Acts and 10 Rules, creating an enabling environment for establishing and running of enterprises in the State.

Kerala Biz News

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