Latest news with #K-SWIFT
Time of India
a day ago
- Business
- Time of India
Kerala's startup ecosystem booms with 20% annual growth
Academy Empower your mind, elevate your skills Kerala's startup ecosystem is growing rapidly, expanding by 20% annually and supporting over 3,500 ventures, according to a report by Startup Kerala Startup Mission (KSUM) has backed more than 6,400 startups, facilitated $665 million in funding, and created 65,000 jobs. Additionally, the initiative engages over 100,000 students annually through 63 incubators.'Kerala experienced a 147% surge in ecosystem value in 2025, highlighting a significant rise in startup formation. This positive momentum points to stronger investor interest, enhanced policy support, and deeper integration into global startup networks,' the report state's projected GSDP (gross state domestic product) for 2024-25 is $150 billion, marking 11.7% growth over the previous the July 2024 generative AI Conclave in Kochi, Kerala revealed an industrial policy that targets 22 key sectors, including AI, blockchain, machine learning, big data, robotics, tourism, and logistics. To encourage investment, the government has streamlined the licensing process through K-SWIFT (an online platform for business permits and licenses), which approved 52 new industrial parks within eight January, Kerala launched its first industry-on-campus initiative, at the Government Polytechnic College, partnering with Genrobotics to set up a robotics manufacturing unit. The state has also provided over 20 IoT (internet of things) labs, fostering collaboration across July 2024, Kerala introduced a new AI policy that offers up to $573,000 in investments from KSIDC (Kerala State Industrial Development Corporation) to AI startups committing over $1 million. This initiative aims to develop infrastructure such as graphics processing units (GPUs) and global capability centres (GCCs).Kochi and Thiruvananthapuram are emerging as key cities for GCC expansion, attracting corporate and investor interest. A new GCC policy is being developed to enhance Kerala's infrastructure and incentives, positioning the state as a major hub for global businesses in line with its commitment to sustainability, Kerala is also developing an integrated electric manufacturing park to support local innovation and manufacturing in the electric vehicle (EV) 2028, Kerala's industrial sector is expected to reach $15.1 billion, with MSMEs playing a crucial role in national projects, including high-profile space missions such as Chandrayaan and Mangalyaan.
United News of India
30-06-2025
- Business
- United News of India
Kerala: K-SWIFT registered enterprises to get temporary building number
Thiruvananthapuram, June 30 (UNI) Aligning with its Ease of Doing Business (EoDB) initiatives, the Kerala Government now allows enterprises registered through the K-SWIFT (Kerala Single Window Interface for Fast and Transparent Clearance) platform to obtain temporary building numbers. The government had amended the Kerala Micro, Small and Medium Enterprises and Non-Industry Facilitation Rules, 2020, to incorporate this provision in order to facilitate businesses to secure clearances and certificates fast without being entangled by procedural delays. Fast issuance of approvals will particularly help new enterprises to secure loans and other services, for which building identification is mandatory. With the amendment to the rules, enterprises with investments of up to Rs 50 crore registered through K-SWIFT are eligible for a temporary building number which is valid for up to three and half years, during which the enterprise must obtain a permanent building number. This provision enables businesses to commence operations and access services like bank loans without waiting for the permanent building number and is also expected to create a more conducive environment for investors by streamlining administrative processes. The temporary building number corresponds to the number on the Acknowledgement Certificate issued upon application submission through K-SWIFT. Acknowledgement Certificate obtained through K-SWIFT is a key document that allows enterprises, specifically those not categorized under the 'Red' category as per the Pollution Control Board guidelines, to commence operations without obtaining prior approvals under various state enactments. Set up by the state's primary investment promotion agency, Kerala State Industrial Development Corporation (KSIDC), K-SWIFT is a one-stop destination for securing all approvals from multiple departments in the state to start, operate and expand businesses. UNI DS SSP
The Hindu
14-05-2025
- Politics
- The Hindu
Thrikkakara municipal chairperson dismisses audit report putting question mark over council
Thrikkakara municipal chairperson Radhamani Pillai has dismissed the audit report on municipal accounts for 2023-24 and questioned the intentions behind making the report public before being verified with all papers submitted by the municipal authorities. The Opposition parties had called for a special council meeting to discuss the report, which noted that ₹7.5 crore, which the civic body had received on various occasions, were not accounted for. But Ms. Pillai told reporters here on Wednesday (May 14, 2025) that the municipality could account for every rupee of the said amount that was said to be missing from the municipal accounts in the audit report. She said the money was not in the bank account details, which were initially furnished by the municipality, but the matter was later clarified since the municipality operates multiple bank accounts. She also claimed that the controversy over the accounts and missing money could be a ploy by the Opposition to paint a poor picture of the ruling council ahead of the local body elections due in October. However, the Leader of the Opposition in the council, M.K. Chandrababu of the CPI(M), claimed that the municipality's allegations were unfounded and that there was money missing from its account. He said there had been similar instances in the past as well. He pointed to the Onam celebrations held over the past two years, during which, he claimed, municipal funds were misused, a concern that had also been raised in the latest audit of accounts. Mr. Chandrababu said the Opposition would request the ruling council to convene a meeting of the council members to discuss the issues raised in the audit report. Ms. Pillai, on the other hand, expressed confidence that she would be able to account for every rupee spent by the municipality for various purposes and slammed the audit report, which, she said, went without incorporating clarifications submitted by the municipal authorities. She added the online system of accounting for money at the municipal level through K-SWIFT was introduced over a year ago, and that the system ensured that there was transparency in all dealings with regard to money. With regard to expenses for Onam celebrations, as pointed out in the audit report, the chairperson claimed that there were no Onam celebrations during 2023-24 during which just ₹2 lakh was spent under various heads, which were accounted for. During Onam in 2023, the civic body spent ₹24 lakh, including the ₹1 lakh paid to the Thrikkakara temple. All the rest of the money spent on celebrations in 2023 was accounted for, she added.
