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Kerala to Incubate 1 lakh Entrepreneurs This Year

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Kerala FM KN Balagopal hinted at the state’s aggressive entrepreneurship policy during the India International Trade Fair inauguration in Delhi

While addressing the inaugural function of the Kerala Pavilion at the 41 st India International Trade Fair in New Delhi, the Finance Minister of Kerala, KN Balagopal said that the state is planning to create 1 lakh new entrepreneurs this year to produce more products of Kerala flavour. He said that the state is aggressively promoting new entrepreneurship as part of its endeavour to be a major manufacturing hub and to cash in on the growing internal trade and services in the country.

The minister pointed out that Kerala has unique selling products based on tourism, sports and local artisans and the state is focused on marketing them nationally. He added, “We are planning for 6 million new SMEs this year and to start 1 lakh new enterprises. Such kind of exhibitions is beneficial for the SMEs from the state. In every village, we are trying to create more and more entrepreneurs. We are advocating for them.”

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It is noteworthy that the 41st edition of IITF will see the participation of nearly 2500 exhibitors from India and abroad. It is being held over a total area of 73,000 sq. meters. This year, Bihar, Jharkhand and Maharashtra are the Partner States and Uttar Pradesh and Kerala are the Focus States. IITF 2022 will see participation from 29 Indian States and UTs and 12 foreign nations including Afghanistan, Bangladesh, Bahrain, Belarus, Iran, Nepal, Thailand, Turkey, UAE, UK.

Vocal For Local, Local to Global-themed 14-day mega event was inaugurated by the union minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal. He emphasised quality and professionalism while also suggesting that local editions of the Trade Fair must be organized across the country to give an impetus to traditional crafts. Furthermore, Goyal called on the attendees to make every effort to drive all financial transactions at IITF to digital platforms. During the inauguration ceremony, Minister of State for Commerce and Industry Anupriya Patel and Som Parkash were also present.

This year, the Kerala Pavilion at the trade fair houses around 30 stalls displaying agricultural, herbal, handloom, ayurvedic, spices and textile products of the state. The Kerala Minister urged Mr Piyush Goyal to organize more trade fairs in different parts of the country, especially in other state capitals, to market locally-made things nationally.

The Trade Fair is a premier event organized by the India Trade Promotion Organization, the nodal trade promotion agency of the Indian Government. The event, which has evolved as a major event for the business community, is held every year at Pragati Maidan, New Delhi.


 

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