Centre gives in-principle approval to revival package for Kerala’s cashew industry
The Indian government has granted in-principle approval for a revival package to support Kerala's struggling cashew industry. The state government is now tasked with drafting a detailed project proposal to secure financial aid and industrial sick sector status for the sector.
Why it matters
This intervention aims to prevent further economic collapse and humanitarian crises in a sector that has seen 90% of private units close over the last decade.
Bringing a ray of hope to Kerala’s struggling cashew sector, Union Finance Minister Nirmala Sitharaman has given an in-principle approval to a comprehensive memorandum of requests presented by Shibu Baby John, the State’s Minister for Forest & Wildlife Protection, Skill Development and Cashew Industry.
Addressing a press conference following a meeting with Ms. Sitharaman, Mr. John said the Union government’s response was exceptionally positive and encouraging. “The Union Finance Minister has directed the State to immediately submit a detailed project proposal, which the Kerala government plans to draft swiftly with the assistance of a specialised committee of cashew industry experts,” he said.
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