Kerala is the national leader in rubber production, with almost 85% of India’s natural rubber production coming from the state.
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 was estimated to be Rs. 999,643 crore (US$ 134.05 billion) in 2022-23, an increase of 10.8% over FY22. The state’s GSDP recorded a CAGR of 8.57% between 2015-16 and 2022-23.
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 March 2022, the state had a total installed power generation capacity of 3,220.74 MW, of which 2,200.36 MW was accounted by state utilities, 409.58 MW by central utilities and 610.80 MW by the private sector.
According to the Department for Promotion of Industry and Internal Trade (DPIIT), cumulative FDI inflows in Kerala stood at US$ 574.27 million between October 2019-December 2021.
Exports from the state stood at US$ 3.94 billion in FY21 and US$ 4.03 billion in FY22 (until February).
Note: * - As per 3rd Advance Estimates