Up to $844,470 subsidy for logistics parks: Kerala's draft guidelines

06 Mar '24

1 min read

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India's Kerala state has unveiled draft guidelines proposing up to $844,470 million in capital subsidies for logistics parks to attract investments and improve efficiency of the logistics sector by granting it industry status.
Incentives like stamp duty concessions and skill development programmes have been proposed, along with a single window clearance system.

India’s Kerala state government yesterday unveiled draft guidelines proposing up to ₹7 crore (~$844,470) in capital subsidies for logistics parks to attract investments and improve efficiency of the logistics sector by granting it industry status.

The aim is to offer incentives, including stamp duty concessions and skill development programmes.

By giving industry status to logistics parks, the government seeks to streamline operations and facilitate seamless business transactions, according to media reports from the state.

A single window clearance system is also expected to be introduced to significantly reduce red tape, ensuring faster setup times for these parks.

Apart from highlighting the importance of comprehensive support services to the logistics sector, the draft paper sees the need for skill development initiatives to ensure a capable workforce.

Storage facilities, transport and other ancillary services are also essential for the successful operation and sustainability of these parks, it notes.

The draft recommends that a logistics park coordination committee should be set up to oversee and expedite the development process to ensure the parks align with the state's economic goals.

ALCHEMPro News Desk (DS)

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