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Introduction to Kerala Responsible Industry Incentive Scheme (K-RIIS )

The Government of Kerala (GoK) has introduced many businesses reform action plans to improve the Ease of Doing Business (EoDB) ranking of the State. KSWIFT, Kerala Centralised Inspection System, Single Window Clearance mechanism,Grievance Redressal System, etc are a few of such programmes rolled out in this direction. Yet another recent initiative of the Government of Kerala is the formulation of a K-RIIS (Kerala Responsible Industry Incentive Scheme) which aims to incentivise Industries in the State that focuses on Responsible Investment (RI) & Responsible Industry (RI) concept. The Incentive Schemes rolled out after multiple stakeholders meeting, offers certain support systems to investors / entrepreneurs in the State by way of subsidies, tax exemption and other incentives so as to attract Responsible Investments in the 22 priority sectors as identified by the Government through its industrial policy. The K-RIIS, as such offers 18 incentive Schemes to Kerala Industry. Enterprises that make investments in the state in the 22 priority sectors as identified by the Government through its industrial policy on or after 01.04.2023 are eligible for apply. Enterprise can apply more than one scheme subject to their eligibility.

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Electricity Duty Exemption for MSMEs

100% exemption for 5 years

Access To Finance Through IPO Route

Reimbursement of 50% expenses subject to a maximum of Rs 1.00 Cr., incurred on.more

Investment Subsidy Incentive Scheme

Investment subsidy of 10% on fixed capital investment, subject to a maximum of Rs 10.00 Cr. more

State Goods and Service Tax (SGST) Reimbursement

100% reimbursement on capital investment in plant and machinery for large and mega.more

Employment Enhancer Incentive

When more than 50% of permanent jobs are filled from local population, an amount more

Incentives For Participation In Trade Fairs

Reimbursement up to 100% of the stall charges incurred, subject to a maximum of Rs 5.00more

Intellectual property creation

Reimbursement up to 50% of the stall charges incurred, subject to a maximum of Rs 30.00 Lakhs for patentmore

Quality certification incentives

Refund of expenses incurred for compulsory marking like CE, FDA, ISO, BIS, etc, to the extent of more

Incentive for sustainability & responsible Industrialisation

Reimbursement of 25% of expenses incurred for purchase of Plant & .more

IR 4.0 Initiatives in Manufacturing

20 % reimbursement of cost of software (big date analytic tools), machinery, etc., subject.more

R & D Incentive

Funding of 20% of R&D cost for units engaged in R&D with Universities in the State, subject. more

Special package to attract PLI investors

A one-time top up incentive of 20% of the fixed capital investment, subject tomore

Scale up incentive for startups

Scale-up loans upto Rs 1.00 Cr. to Startups in the State.

Low Interest Loan

Loan @ 4% interest subject to a maximum of Rs 10.00 lakh (via interest subvention upto 6%) more

Private Industrial Estates

Funding support up to Rs 3.00 Cr for infrastructure development. more

Made In Kerala (Branding & Marketing)

Reimbursement of 50% of the cost incurred in obtaining ‘Made in Kerala ‘certification.

Capital Subsidy Incentive

Micro – upto 45%, subject to a maximum of Rs 40.00 Lakh Small – upto 45%, subject to a maximum more

 
 
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