Kerala has the highest literacy rate of 94%, as per Census 2011. The state is also the largest producer of coir and coconut in India.
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 favourite tourist destination among foreign travellers in 2018.
Kerala ranks second in the Investment Climate Index followed by Karnataka as per a policy research working paper by the World Bank. The state stands second due to its world-class infrastructure and well-trained human resource pool. Kerala's traditional industries include handloom, cashew, coir, and handicrafts.
At current prices, Kerala’s total GSDP is estimated at Rs. 10,17,872.58 crore (US$ 124.18 billion) in 2022-23, an increase of 12.2% over FY22. The state’s GSDP recorded a CAGR of 8.84% between 2015-16 and 2022-23.
In FY23, the state had a total installed power generation capacity of 6,385.84 MW, of which 2,232.01 MW was accounted by state utilities, 2,312.28 MW by central utilities, and 1,841.55 MW by the private sector.
According to the Department for Promotion of Industry and Internal Trade (DPIIT), cumulative FDI inflows in Kerala were valued at US$ 781.98 million between October 2019-March 2023.
Exports from the state stood at US$ 4.28 billion in FY23.
The following are some of the major initiatives taken by the Government to promote Kerala as an investment destination:
Kerala has become the 8th State in the country to successfully undertake "Ease of Doing Business" reform stipulated by the Department of Expenditure, Ministry of Finance.