Thiruvananthapuram: The state cabinet on Wednesday approved Kerala's new industrial policy, which aims to bring about an industrial revolution in the state. The policy focuses on attractive incentives including 20 per cent reimbursement for initiatives, exemption of electricity duty for Micro, Small and Medium Enterprises (MSMEs) for five years, waiver of stamp duty and registration charges for women and SC, ST entrepreneurs, among others. 

Furthermore, the policy also plans to set up advanced battery manufacturing parks, mega food parks, mini-multi logistics parks, electronic manufacturing clusters and electronic hardware parks in the state. The priority sectors also include aerospace, defence technology, robotics, AI, biotechnology, research and development, engineering, graphene, medical devices, value-added crops among others. 

The major goals of the policy include upgrading traditional industries by infusing new technologies, nurturing the entrepreneurial talent of unemployed educated youth and women and making Kerala a thriving startup destination.