KSIDC offers financial assistance to new sectors

THIRUVANANTHAPURAM - As part of its diversification plan, the Kerala State Industrial Development Corporation (KSIDC) will extend financial assistance to five more sectors.

The new sectors are logistics, infrastructure, media and entertainment (infotainment), knowledge centres and retail.

The industrial promotion agency said its foray into new areas followed thorough studies of these sectors.

“Indian logistics industry is growing at 20 per cent as against the average Indian industry growth of 7.5 per cent. Kerala is on the point of take off in respect of several projects having potential for logistics sector development. With the commissioning of the Vallarpadam international container transhipment terminal at Kochi to take place soon, there will be huge demand for containiner freight stations and other logistics requirements,” said KSIDC in a press release.

Similarly, the media and entertainment industry is one of the fastest growing industries in the country. Its various segments like making films and tele-serials and advertising had seen tremendous growth in the last few years in the state.

The education sector also looked promising with the state turning out to be a sought after place of quality higher education.

In the last fiscal, KSIDC’s revenue went up by 25 per cent and it made a profit of Rs.24.20 crore, beside sanctioning financial assistance of Rs.73.35 crore to industries across various sectors.

–Indo Asian News Service