While small and medium enterprises are thriving in Kerala, KSIDC, a governmental agency is gaining prominence. Kerala State Industrial Development Corporation (KSIDC) is the state government supervised agency to promote industries and investments in the state. KSIDC was established in 1961.
The primary objective of KSIDC is to provide financing and infrastructure to large and medium enterprises. KSIDC provides necessary assistance to investors who wish to start a business in the state. KSIDC is also authorizing various incentive schemes for businesses. The KSIDC team consists of experts in the fields of engineering, management, finance and law. KSIDC has been an integral part of over 750 developmental projects including Cochin International Airport, KMML, Brahmos Aerospace, Thiruvananthapuram, Malabar Cements, Kerala Ayurveda Pharmacy, Kerala State Drugs & Pharmaceuticals and Apollo Tyres.
KSIDC and Services
KSIDC provides a wide range of services to support budding entrepreneurs in Kerala. KSIDC General Manager, G Unnikrishnan said that KSIDC will be supporting basic infrastructure and finance. KSIDC will provide opportunity to any industrialist in multi-product industrial parks. All the basic amenities will be available at the park.
Loans for entrepreneurs
Equity, Term Loan, Working Capital Loan, Corporate Loan and Short Term Loan are issued by KSIDC. KSIDC will arrange for clearances and approvals. This is co-ordinated through an online mechanism, K-Swift. If it is an enterprise valued above Rs 10 Cr, all clearences will be paid by KSIDC. K-Swift nullifies the need to shift between departments.
KSIDC offers loans at low interest rates. An entrepreneur with a good credit rating will also receive a discount on interest rates. Rebates will be granted on interest if repayments are made properly. KSIDC also provides entrepreneurs with low-interest loans and departmental clearances, added Unnikrishnan.
