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Kerala is one of the most popular tourist destinations in the world.
Agriculture continues to be the dominant source of livelihood in the state. The
state is the largest producer of coconut, rubber, coir and pepper. It is also
the leading producer of a variety of spices, cashew, coffee and tea.
With an investment of US$ 769.6 million, the state has the third highest
number of small-scale industries in India, employing over a million people. A
majority of the state's small-scale industries are agro-based and are engaged in
rubber, food, coir and cashew processing.
The manufacturing sector accounts for 10 per cent of the State Domestic
Product and has grown at an annual compounded rate of 9 per cent in the last
seven years. The state has set up industrial parks catering to agro-sector,
export promotion, small industries, film, Information Technology (IT),
electronics, fisheries and rubber.
As one of the leading tourist destinations in the country, the state has seen
1 1.3 per cent growth in tourist traffic in recent years. Foreign exchange
earnings from tourism amounted to US$ 145 million in 2002-03, growing at a
Compounded Annual Growth Rate (CAGR) of 24 per cent.
Thiruvananthapuram, the capital city of Kerala, has emerged as a centre for
IT/ITES and the Technopark in the city houses 55 companies, including giants such as Infosys and Tata
Consultancy Services (TCS). The state handles two-thirds of the country's data
traffic and has the highest tele-density in the country.
The growth in tourism and the IT sectors has enabled the services sector of
the economy to record a growth rate of 10 per cent per annum. In terms of
infrastructure penetration, Kerala is a leading state. It has the highest per
capita density of roadways in the country, three international airports, a large
port at Kochi, three intermediate ports and 17 small ports. It is one of the two
Indian states to have two submarine cable landings.
The state policy is keen to nurture its manufacturing sector and has proposed
measures to help businesses seek technology upgradation and process
improvements.
The state's IT policy seeks to establish Kerala as a global services hub. The
Government has proposed steps to improve labour relations in the state and make
governance streamlined, transparent and investor friendly. The excellent
infrastructure facilities, policy framework and the availability of skilled
manpower have enhanced the state's reputation as an IT/ITES destination. The
state is keen to tap emerging opportunities in the biotech sector as well.
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