Industries Minister E.P. Jayarajan has said that the department is planning to set up a Micro Finance Corporation to promote micro, small, and medium enterprises (MSMEs ) in the State.
Speaking after inaugurating the coffee processing plant of the Brahmagiri Development Society, a farmer-initiative in the district, at Kaniyampetta on Tuesday through video-conferencing, Mr. Jayarajan said that the NABARD was extending a financial assistance of ₹225 crore to the MSMEs through the Kerala Bank.
“The government is also implementing a security package as a part of promoting small scale industries,” the Minister said.
“There is a huge opportunity for micro enterprises that make value added products from agriculture crops,” Mr. Jayarajan said, adding that the crisis thrown up by COVID-19 could be overcome through progress in the agriculture and industrial sectors of the State.
The plant, with a capacity of processing three tonnes of coffee powder a day, has been set up at a cost of ₹70 lakh. As many as 6,000 farmers in six grama panchayats would benefit from the project .
Dairy Development Minister K. Raju inaugurated the website of the Brahmagiri Wayanad Coffee on the occasion.
