Last updated: Jan, 2024
Introduction
Kerala is one of the few states to have marketed its natural beauty successfully to the leisure tourism sector. The state's unique heritage and cultural diversity have attracted tourists from around the world. BBC Travel survey has rated Kerala as the top favourite tourist destination among foreign travellers in 2018. At current prices, Kerala’s total GSDP is estimated at Rs. 10,17,872.58 crore (US$ 124.18 billion) in 2022-23, an increase of 12.2% over FY22. The state’s GSDP recorded a CAGR of 8.84% between 2015-16 and 2022-23. Kerala has a wide range of fiscal and policy incentives for businesses under the Industrial and Commercial Policy and has well-drafted sector-specific policies.
In September 2023, the state had a total installed power generation capacity of 6,493.79 MW, of which 2,232.01 MW was accounted by state utilities, 2,323.41 MW by central utilities, and 1,938.37 MW by the private sector. Thermal power contributed 3,077.87 MW to the total installed power generation capacity, followed by hydropower at 1,864.15 MW, renewable energy at 1,189.77 MW, and nuclear energy at 362 MW.
According to the Department for Promotion of Industry and Internal Trade (DPIIT), cumulative FDI inflows in Kerala were valued at US$ 807.26 million between October 2019-June 2023.
Exports from the state stood at US$ 4.37 billion in FY23.
Recent Developments in Key Sectors
- Prime Minister Mr. Narendra Modi laid the foundation and dedicated to the state several projects of the Kochi Metro and Indian Railways totalling Rs. 4,500 crore (US$ 552.69 million) in September 2022.
- In May 2023, during the investors' meet, 24 of the 121 investors forwarded their letters of interest for an investment of Rs. 381.75 crore (US$ 46.6 million) in various sectors of the Kattakada constituency of Kerala.
- In FY23, the total marine products exports from Kerala accounted for US$ 1 billion.
- In FY23, the state’s passenger traffic stood at 8,812,531 at Cochin airport and 3,478,067 at Thiruvananthapuram airport.
- Union Railway Minister Mr. Ashwini Vaishnaw, in April 2023, informed that 34 railway stations in Kerala would soon be upgraded to world-class standards.
- Cargo traffic handled by the Cochin port stood at 35,255 thousand tonnes in FY23.
- A training on Smart Farming using e-crop was inaugurated by Mr. P.Prasad, State Minister for Agriculture Development and Farmers Welfare, on 16th June 2022 at ICAR – CTCRI, Thiruvananthapuram by launching the e-crop-based smart fertigation facility.
- As per the State Budget 2023-24, the government has allocated funds worth Rs. 7,853 crore (US$ 958.1 million) for agriculture and allied activities.
- In 2021-22, the total production of horticulture crops in the state was expected to be 6,160.28 thousand metric tonnes and the area under production was 1,483.03 thousand hectares. In 2021-22, the total production of vegetables and fruits was estimated at 544.95 thousand metric tonnes and 1,939.452 thousand metric tonnes, respectively.
- As of July 2022, Kerala has 25 total notified SEZs. The state has a technopark in Thiruvananthapuram which has been instrumental in attracting global electronics manufacturers, an info park in Kochi, and a cyberpark in Kozhikode.
- In 2019-20, tea production in Kerala stood at 59.26 million kgs. Tea exports from the state stood at US$ 75.65 million during 2020-21 (until January 2021).
- The state has a technopark in Thiruvananthapuram, which has been instrumental in attracting global electronics manufacturers and has an info park in Kochi and a cyber-park in Kozhikode.
- In December 2020, the Kerala Government announced that development projects worth Rs. 10,000 crore (US$ 1.36 billion) will either be completed or launched in the state in the next 100 days. Of these, a total of 5,526 projects will be completed or inaugurated, amounting to Rs. 5700 crore (US$ 774.89 million), and 646 projects worth Rs. 4,300 crore (US$ 584.57 million) will be launched.
NOTE: * - As per 3rd Advance Estimates
FACTFILE
Capital
ThiruvananthapuramGeographical Area (sq km)
38,863State Language
Malayalam, Hindi, English and TamilLiteracy Rate
94.6 per centKey Industries:
Handlooms and power looms
Rubber
Bamboo
Coir, Khadi and village
Sericulture
Tourism
Cashew
