Last updated on Jul, 29 2021
KERALA State Report | March, 2021
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 Gross State Domestic Product (GSDP) is estimated at about Rs. 9.78 trillion (US$ 139.94 billion) in 2020-21. The state’s GSDP will increase at a CAGR of 11.72% between 2015-16 and 2020-21. The state’s per capita GSDP stood at Rs. 2,25,484 (US$ 3,226) during 2018-19.
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 February 2021, the state had a total installed power generation capacity of 5,836.95 MW, of which 2,189.36 MW was accounted by state utilities, 2,097.20 MW by central utilities and 1,550.39 MW by the private sector.
According to the Department for Promotion of Industry and Internal Trade (DPIIT), the cumulative FDI inflows in Kerala were valued at US$ 263.53 million between October 2019 and December 2020.
Exports from the state stood at US$ 3.36 billion in FY21 (until January 2021). Kerala exported two key items including marine products and spices.
NOTE: * - As per 3rd Advance Estimates