The Micro, Small and Medium Enterprises (MSME) sector continues to be a critical pillar of Kerala’s economy, offering employment to a large chunk of the population with relatively modest investments. Known for its mix of traditional and modern industries, the state’s MSME space includes everything from coir, handloom, and handicrafts to high-tech production units.
The latest Economic Review Report, tabled in the Assembly alongside the Kerala Budget 2024, sheds light on an interesting trend: the state saw a sharp rise in new MSME units during 2023-24. A total of 1,03,596 units came up, marking a significant boost in local enterprise. These ventures attracted investments worth Rs 7,048.65 crore and generated employment for 2,18,179 individuals.
So, which district led the way? Unsurprisingly, Ernakulam took the top spot, launching 10,437 units and creating 25,387 jobs with an investment of Rs 1,013.77 crore. Known as the state’s commercial hub, the district’s performance was expected but still impressive.
Malappuram followed closely with 10,142 new units. This led to employment for 23,529 people, backed by investments totalling Rs 734.2 crore.
On the flip side, Wayanad found itself at the bottom of the list. Only 2,782 units were established in the hill district, providing jobs to 5,048 individuals. Thiruvananthapuram, despite being the state capital, ranked just above Wayanad with 10,056 units employing 19,550 people and investments worth Rs 518.62 crore.
There’s also a notable mention for women entrepreneurs — a one-third of the state’s MSME units are reportedly owned by women, pointing to a promising trend of increasing female participation in business.
