What is the story about?
What's Happening?
Kerala's Industries Minister P Rajeeve has launched a new framework aimed at establishing the state as a hub for hi-tech manufacturing and allied services. The initiative seeks to position Kerala as a center for advanced research and development, design, engineering, testing, inspection, and certification services within the manufacturing sector. The framework is part of transformative policies that have led to a reverse migration trend, with professionals returning to work in Kerala-based companies.
Why It's Important?
This development is significant for Kerala's economic growth and its positioning in the global manufacturing landscape. By attracting skilled professionals and fostering innovation, the state can enhance its competitiveness and contribute to the national economy. The framework supports the growth of small and medium enterprises (SMEs) and multinational corporations (MNCs), potentially leading to job creation and increased investment in the region.
What's Next?
The implementation of the framework will involve collaboration with industry stakeholders to identify high-value activities and stimulate research and development growth. The state government will likely engage with global technology centers and capability centers to leverage Kerala's talent pool and existing ecosystem.
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