Kerala, which is also known as God’s Own Country is unique in many ways for India. The state has the highest literacy rate, sex ratio, life expectancy and human development index. Kerala is known for its backwaters, coconut trees, hills, coasts, snake boat race and cultural influence which have made it one of the most popular tourist destinations in India. Apart from tourism, Kerala also derives a large sum of its revenue as remittance sent through its immigrants living in gulf countries.
Growing to be a mixed economy
Agriculture has been the mainstay for Keralites with high production of rice, black pepper, coconut, tea, coffee, rubber, cashews etc. Fishery and mining also contribute a bit to the overall income of the state. However, the state government of Kerala has decided to focus on the rise of Information Technology and tertiary sector to enhance the sources of income of the state.
Because of this, the state saw a massive rise in the number of MSMEs, resulting in augmented employment and more options for earning. Kerala hosts the first technology park in India, located in Thiruvananthapuram. Some of the biggest IT giants such as TCS, Cognizant, Infosys, Oracle, Capgemini and HCL have their units here. This has paved a way for Kerala to become a mixed economy and it is very well following the course of development.
Blockchain will be the biggest relief
The rise of IT in the state has turned the entrepreneurs towards technology. Blockchain is a technology which could be adapted to the most mundane business such as farming which paves a way for blockchain development in Kerala. With this technology, the rising small and medium-sized businesses see a brighter future. This technology enables them to expand their operations to a greater scale with minimum expenses.
The state has been recently devastated by disastrous flood which has claimed hundreds of lives and losses worth millions. The state is now slowly coming to the track and blockchain technology would be a big help for Keralites desperately trying to reinstate their businesses. This technology could also be immensely helpful in distribution of funds, medicines or ration in such disastrous times.
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It is great to see that educated and well-cultured people of Kerala have always embraced innovation. This has helped them regain their mental and financial strength. Have stoically borne the impact of flood, the state is now ready to start afresh and make the God’s Own Country divine again now. With blockchain adaption in many businesses, Kerala would see a massive growth in the number of MSMSEs and in their success as well.
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