Rs 10,000 cr plan prepared for diversification, expansion of PSUs in Kerala, says Minister P Rajeev

P Rajeev | Photo:

Kochi: Kerala Industries Minister P Rajeev on Tuesday said that the State Government is making several interventions to strengthen Public Sector Undertakings (PSUs).

While inaugurating the B2B Summit organised by the Public Sector Restructuring and Internal Audit Board (RIAB), he said that a master plan of Rs 10,000 crore has been prepared for the diversification and expansion of PSUs.

"PSUs are the backbone of the state's industrial sector. There are 405 projects in the master plan. Short, medium and long-term projects will be implemented in 41 public sector institutions in 7 sectors. During 2021-22, the turnover of 41 PSUs under the Industries Department increased to Rs 3892.13 crore and the operating profit to Rs 386.04 crore. There is a growth of 105.68 per cent in the region compared to the previous year," P Rajeev said.

He further said that Kerala is a very suitable place for new ventures including start-ups, adding, "Currently, there are 4000 startups in Kerala. India's first IT Park was also established here. Kerala also has a great tradition in the field of electronics. Keltron, a PSU of the state, was the first television manufacturer in India. Keltron is supplying its electronic products even to the defence sector. There are many such examples to be pointed out in the state public sector."

He added that the government is also giving special attention to promoting small enterprises.

"The initiative started with a target of starting one lakh enterprises in a year and achieved the target within eight months. So far, 1,11,091 enterprises have been started with an investment of Rs 6821 crore. 2,40,708 jobs were also created. Through this business alliance meeting, it will be possible to initiate more effective initiatives in the cooperation of central and state public sector institutions. Thus, let the economic development of the state and the country be accelerated," he said.

Top officials of around 20 Central Public Sector Undertakings visited and reviewed the products and manufacturing capabilities of the State Public Sector Undertakings and the possibilities of taking part in production/manufacturing activities in their respective establishments.

Central Public Sector Undertakings Cochin Shipyard, Central Workshop, Southern Railway, Garden Reach Shipbuilders, VSC, Heavy-Vehicles Brahmos Aerospace, BHEL, BEML, Machine Tool Prototype Factory, Central organizations such as Mishra Nigam Ltd., Mazagan Dock, Bark, BPCL, IOCL, HPCL etc. mainly participated in this meeting.

Steel and Industrial Forgings Limited, Steel Industries Kerala Limited, Metal Industries, Kerala Automobiles, Autocast, Kerala Electricals and Allied Engineering Company, KEL---EML, and Traco Cable Company, which are PSUs operating in the engineering, electrical and electronic sectors under the Industries Department of the State Government. , United Electricals, Telc, Keltron, Keltron Electro-Ceramics and Keltron Component Complex participated in the event to present information about their products.

In addition to the products currently manufactured by the state public sector organizations and the services engaged in, necessary actions and discussions were held in this meeting for the expansion and assimilation of suitable technology for designing and diversifying the products required by the central public sector organisations. (ANI)

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