Industrial Financing and the MSME Development in Kerala: The role & efficacy of Kerala Financial Corporation (KFC)
Kerala, with its availability of competitive natural and skilled human resources, world-class industrial infrastructure, and excellent connectivity and communication networks, is best suited for the growth of the micro, small, and medium enterprises. The Government encourages MSMEs as an engine of growth as it contributes much to the process of economic growth, employment generation and balanced and equitable regional development. In its march towards a hasty and progressive industrial development, some sort of customised and industry-specific policy measures that could endeavour in reaching its objectives through state-of-the-art industrial infrastructure, encouraging eco-friendly enterprises, strengthening the MSMEs, inculcating entrepreneurship development, enhancing skills, simplification of rules and procedures, etc. must be initiated with a clear cut vision, objectives, and strategy so as to transform the State into a world-class business hub. It is in the context, the paper attempts to explore the prospects of industrial financing and the MSME development of Kerala with particular reference to the operational performance of the Kerala Financial Corporation (KFC).