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The
business and economy of Kerala has been showing an
encouraging growth trend, which is reflected in the overall
prosperity of the state. The per capita GDP of Kerala is
Rs.11,819, which is much higher than the national average.
The main parameters of the business and economy of Kerala
are agriculture, livestock, fisheries, forestry & wildlife,
industry & infrastructure, minerals & energy, banking &
finance, Kerala tourism, real estate, healthcare and the IT
sector.
Agriculture
The business and economy of Kerala is dominated by
agriculture. Nearly half |
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of the
population of Kerala are dependent on agriculture for their
livelihood. Kerala is the producer of 96 percent of India's
total yield of pepper and 91 percent of natural rubber.
Other major crops in the state are coffee, tea, coconut,
cashew and the spices like cinnamon, nutmeg, vanilla and
cardamom. Rice is grown in abundance in Kerala, and it is
the staple food of its native people. Home gardening is very
popular in Kerala. The citizens give significant
contribution to the agricultural produce by this pleasant
and productive hobby.
Livestock
Animal husbandry and livestock is equally important aspect
of the state's economy. It is a prevalent occupation in
rural Kerala. It is supposed to be an ideal earning
opportunity for the unemployed women and economically
weaker, landless people.
A significant percentage of Malayalian people are busy in
managing the livestock. They are engaged in activities like
milking, feeding, cattle breeding and its healthcare, and
livestock management. The Government of Kerala offers
lucrative incentives to such professionals and promotes the
livestock. The government also arranges educational programs
for such people. The introduction of new breeds of cattle
such as 'Sunandini' has given an impetus to the milk
production in Kerala.
Fisheries
Kerala accounts for a huge output of freshwater and marine
fish haul every year. Fishing and related activities such as
processing, drying, packaging, transporting and exporting
fish are the major occupations of about 10.85 lakh people in
the state. The Department of Fisheries implements the
various schemes for the welfare of these fishermen and
workers. The state yields about 6.75 lakh tonnes of fish
each year, which create a significant boost to the business
and economy of Kerala.
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Forestry
& Wildlife
The dense forests have occupied about 10,336 square
kilometers area of Kerala. Kerala is the home to a wide
variety of flora and fauna. The forestry and wildlife play
an important role in the economy of the state. The tax
revenue obtained from the export of herbs and herbal
byproducts has made a great contribution to the foreign
exchange earning. The byproducts include ivory, oils,
rosewood, teakwood, sandalwood, natural incense, tree barks,
scents and hides of the animals such as fox, jaguar and
elephants. Various industries like leather products
manufacturing units, sandal and ivory carving business,
fragrance and incense preparing cottage industries are well |
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establishedin the state, which are all products of a
thriving forestry and wildlife scenario.
Industry & infrastructure
There are numerous industries flourishing in Kerala. Textile
and electronics industries are abundant in Kerala. Tea,
coffee, pepper, ginger, coconut and cardamom are the main
export items in Kerala, which have spawned a variety of
industries. The state has about 1.8 lakh small scale
industries and 511 medium sized and large industries.
Tourism and business process outsourcing are also playing
major roles in the industry of Kerala.
Minerals & energy
Kerala has a high output of hydel power. The state is
India's second largest generator of diesel-based thermal
electricity. The state has a rich source of mineral ores
including silica, quartz, bauxite and sillimanite. Moreover,
the finest variety of China Clay is available in Kerala.
IT sector
Kerala has a booming software, e-business and e-commerce
industry. The state has emerged as a major revenue generator
in IT, with the increasing investments of multinationals and
the creations of techno parks.
As Kerala is one of the major tourist destinations in India,
tourism also plays a dominant role in the state's economy.
The medical profession and the healthcare industry in Kerala
are flourishing, which is paving way for medical tourism in
the state. |
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