Kerala’s State government announces a ₹7 crore capital subsidy for logistics parks, introducing draft guidelines to boost the logistics industry.
In a significant move to catalyse the growth of the logistics sector, the Kerala State government has unveiled a capital subsidy of up to ₹7 crore for logistics parks. Industries Minister P. Rajeeve released draft guidelines on logistics parks, showcasing the government’s commitment to fostering the industry. The guidelines propose extending incentives such as industry status and a streamlined single window clearance system for logistics parks.
The draft emphasises supporting related facilities like skill development, storage, transport, and other services to incentivise the establishment of logistics parks in the state. Stamp duty concessions are recommended for both logistics parks and mini logistics parks. Additionally, the proposal includes the formation of a logistics park coordination committee, headed by the Chief Secretary.
Paul Antony, Chairman of KSIDC, highlighted the unlimited opportunities for logistics parks in the state during the draft paper’s release. The move aims to create a conducive environment for the logistics industry, promoting economic growth and employment opportunities in Kerala.
