Industrial parks and the MSME development in Kerala: An economic analysis
P Noufal, Dr. KV Ramachandran
The development of industrial parks as a constructive channel of industrial infrastructure has attracted the attention of policymakers in recent years as they can develop certain synergies and a typical entrepreneurial culture in the industrial economy of the country. By providing a strong legal and institutional framework, industrial parks pool resources and reduce costs, risks, and the delays associated with land acquisition, zoning and permitting. 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. It is in the context, the paper attempts to explore how industrial parks align infrastructure provision and agglomeration economies to jolt industrial growth of the regional economy with particular reference to the MSME development in Kerala.