Kerala to Have 25 Private Industrial Parks This Fiscal 2023
According to a state official, Kerala will have at least 25 private industrial parks by the end of the fiscal year due to the revisions made to the Private Industrial Estate (PIE) plan. One hundred private industrial parks spread across 1,000 acres are the government’s stated goal for the next four years.
S Harikishore, director of industries and commerce, said, “So far, eight individual developers have been given permits to build private industrial parks in different parts of the state, and 20 applications are under review.”
The PIE scheme’s purview has been widened to include independent developers to construct industrial parks. Individual developers with at least 10 acres of land may seek to establish industrial parks under the updated system.
Each developer would receive a subsidy of up to Rs 3 crore from the state’s Department of Industries and Commerce to build infrastructural amenities in these parks, including roads, power, water supply, sewage, effluent treatment plants, and communication networks.
The programme makes it easier to establish private industrial parks by allowing single-window approval, similar to government parks. As the state pollution control board advises, private industrial parks are not allowed to house red-category enterprises.
To boost industrial growth and attract more investments, the Government of Kerala has reportedly set the ambitious goal of establishing 25 private industrial parks across the state in the fiscal year 2023. This initiative aims at fostering economic development, job creation, and investment attraction in the state.
Kerala, known for its picturesque beauty, is also a state with immense potential for industrial growth. Despite being one of India’s most socially developed states, with high literacy rates and health indicators, Kerala has traditionally been less focused on large-scale industrial development than other states. This plan to establish private industrial parks is a significant step towards changing this narrative.
These parks provide a conducive environment for industries to set up and operate their businesses quickly. These parks are expected to be fully equipped with state-of-the-art infrastructure, including uninterrupted power supply, clean water, efficient waste management systems, and top-notch connectivity options.
While the exact locations of these parks have yet to be confirmed, they are anticipated to be strategically distributed across the state, ensuring the inclusion of both urban and rural areas, thereby promoting equitable economic development.
The parks are expected to be tailored to accommodate a diverse range of industries, including Information Technology (IT), biotechnology, manufacturing, renewable energy, textiles, and food processing.
A fast-track, single-window clearance system will likely be a part of these industrial parks to simplify the administrative processes for potential investors.
These parks are expected to be developed with high-quality infrastructure, including roads, power, and telecommunications.
In line with Kerala’s eco-friendly policies, the parks are anticipated to be designed and operated based on sustainable and green principles. These parks may also include training and skill development centres to ensure a ready supply of skilled labour.
The state government will likely collaborate with private players under the Public-Private Partnership (PPP) model. It may also seek investment from both domestic and foreign investors. Tax incentives, subsidies, and attractive land lease terms are anticipated to be offered to encourage investment in these parks.
These parks are expected to contribute to Kerala’s GDP significantly. A considerable increase in direct and indirect job opportunities across various sectors is expected. These parks will likely bring in new technologies and innovation, thus fostering a culture of research and development in the state.
These parks are anticipated to develop ancillary infrastructure like roads, power lines, and housing facilities.
Despite the bright prospects, potential challenges, such as land acquisition, environmental concerns, and effective collaboration between the government and private entities, will need to be carefully navigated.
The decision to establish 25 private industrial parks in Kerala in the fiscal year 2023 is a significant and commendable step towards industrialization and economic development in the state. It is a vision of industrial prosperity and a model that seeks to balance economic growth with social and environmental responsibility.
