Bureaucrat-turned-entrepreneur to head Kerala's industry body

Prominent industrialist and former civil servant C. Balagopal has been appointed as the Chairman of the Kerala State Industrial Development Corporation (KSIDC). 

C. Balagopal, who founded the blood bag manufacturer Terumo Penpol, has also served as the Chairman of the Federal Bank. 

Penpol launch 

C. Balagopal resigned from the civil service in 1983 and founded Peninsula Polymers (Penpol), a venture in the field of biomedical equipment manufacturing.

Penpol went on to become a leading global company in blood bag manufacturing and later merged with the Japanese firm Terumo. Now it stands as one of the largest blood bag manufacturers in the world.

C. Balagopal's appointment is set to use his experience as both a bureaucrat and an entrepreneur who built an enterprise from the ground up for the industrial development of the State.

An active supporter of startup initiatives, his insights and approach are expected to provide valuable direction in promoting entrepreneurship and fostering a conducive environment for new businesses in the State.

KSIDC is mandated to look after industrial and investment promotion in Kerala. Formed in 1961, KSIDC’s primary goal was to promote, facilitate and finance large and medium scale industries and catalyse the development of physical and social infrastructure required for industrial growth in the State.