Kerala PSUs set benchmark for public sector growth at national level: P. Rajeeve

Kerala has shown a model for India by redefining what a modern, efficient and people-oriented public sector can look like, despite fiscal constraints and external pressures, Industries Minister P. Rajeeve has said.

In a post on X, the Minister wrote that 51 public sector enterprises under the Department of Industries and Commerce have together recorded a turnover of ₹5,135.89 crore, a 15.14% annual growth. Profit making enterprises increased from 12 to 14 and those reporting operating profits rose from 18 to 22.

“While the national trend has been disinvestment and closures, Kerala has built a strong alternative. Data from 2016 to 2024 shows that while many major states saw steep declines in public sector factories, Kerala maintained near stability, a significant achievement in today’s economic climate. Kerala is now the second highest contributor to India’s Gross Value Added after Maharashtra, with an 11.3% share. Over the last nine years, Kerala has also recorded the highest cumulative nominal GVA growth in the country at 15.6%,” he wrote.