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Kerala

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 has attracted tourists from around the world. BBC Travel survey has rated Kerala as the top favorite tourist destination among foreign travelers in 2018.

At current prices, Kerala’s total GSDP stood at Rs. 876,283 crore (US$ 119.93 billion) in 2021-22, an increase of 1% over FY20. The state’s GSDP will increase at a CAGR of 11.72% between 2015-16 and 2020-21. The state’s per capita GSDP stood at Rs. 2,25,484 (US$ 3,226) during 2018-19.

In December 2020, 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.

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.

As of April 2021, the state had a total installed power-generation capacity of 5,836.95 MW, of which 2,189.36 MW was accounted by state utilities, 2,097.20 MW by central utilities and 1,550.39 MW by the private sector.

According to the Department for Promotion of Industry and Internal Trade (DPIIT), cumulative FDI inflow in Kerala was valued at US$ 269.61 million between October 2019 and March 2021.

Exports from the state stood at US$ 3.94 billion in FY21.

Economic Snapshot: Andhra Pradesh
Per capita Income of Andhra Pradesh
KEY SECTORS
  • As per the State Budget 2021-22, the government has allocated funds worth Rs. 8,983 crore (US$ 1.23 billion) for agriculture and allied activities.
  • In 2019-20, the total production of horticulture crops in the state was expected to be 10219.76 thousand metric tonnes and area under production was 1590.56 thousand hectares. In 2019-20, the total production of vegetables and fruits were estimated at 2757.05 thousand metric tonnes and 1731.44 thousand metric tonnes, respectively.
  • In 2019-20, tea production in Kerala stood at 59.26 million kgs. Tea export from the state stood at US$ 75.65 million during 2020-21 (until January 2021).
  • The state has a techno park 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 FY21, the total marine products exports from Kerala accounted for US$ 511.52 million, which was 15% of the total exports

Note: * – As per 3rd Advance Estimates