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Cochin trade body seeks revival package for sick industries in Kerala

V. Sajeev Kumar Kochi | Updated on January 10, 2018 Published on September 18, 2017

The Cochin Chamber of Commerce and Industry has suggested that Kerala Government's Industrial and Commercial Policy 2017 should address the problems being faced by sick industries by offering them a revival package.

According to Shaji Varghese, the chamber president, the proposed industrial policy had no mention with regard to revival and rehabilitation of sick industries. There are many industries which were performing well and making profits that became sick due to a variety of reasons. A revival package would help them to effectively utilise the infrastructure developed and money invested.

The trade body also raised concern for not mentioning the logistics sector in the policy, given its anticipated growth rate of 15-20 per cent by 2020.

Kerala’s logistics sector has a huge growth potential. While other service sectors such as tourism, healthcare, education, IT-ITes and shipping have specific focus on them, the logistics sector remains neglected, despite being crucial for the growth of the other sectors and the overall economy, he said.

With the implementation of GST, he said the logistics sector has started showing signs of becoming one of the main emerging sectors that will propel the further growth of the economy.

The chamber also suggested setting up of logistics hubs near manufacturing centres and ports with common infrastructure facility by allotting non-utilised lands in industrial estates.

The Government should invite private entrepreneurs to establish logistics parks and encourage the PPP model of development by allotting land on long term lease basis, he added.

Published on September 18, 2017
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