Business and Economy in MalappuramThe economy of Malappuram is an amalgamation of the services sector, the natural resources like timber as well as cloth manufacturing on the large industrial side and handlooms on the side of the small-scale industries. The trading business is also high with the hotel and bakery businesses by far outnumbering all other forms of business enterprises. Among the remittances being sent to banks in Malappuram from its many migrants in various parts of the world with their larger concentrations in the Middle East. All remittance in the country have been collated and it has been observed that Malapurram holds the ninth position among the top ten banks of the country that were obtaining the maximum remittances.
Traditionally, the business opportunities open to entrepreneurs and businessmen were in areas of sale and retail of timber, fish, spice and the services contribution in the industries and tourism sector. Besides, there are large business houses concerned with the timber business as well as the small-scale handmade textile business.
Business Opportunities in MalappuramMalppuram has developed several industrial areas whereby there are 16 large industries and eight small industrial estates. Several schemes are there for entrepreneurs benefitting from the Prime Minister Rozgar Yojna and other advantageous promotive initiatives. Many rubber manufacturing units have been established here. These rubber industry-based opportunities are located in the Payyanad industrial estate.
Business opportunities exist even in the wooden products industry. Malappuram has wood-based industrial and business outlets in the areas of Edavanna, Karulai, Kottakal, Vaniyambalurn, Mampad and Nilanbur. This is a thriving sector with hundreds of units working on various aspects of wood products ranging from furniture to decoration items. This area has saw mills that plane down the timber into planks and from there onto the manufacturing, wholesale and retail business end. The industry has opportunities growing virtually every day. There is, however, tremendous scope for additions into this sector.
Other up and coming opportunities in this sector include to a large extent the Kinfra Food Park as also the emerging IT Park at the newly-evolved Kakkancherry area. The government initiatives are visible in their allocation of more than two hundred acres of land for the setting up of a state-of-the-art modern industrial Eestate. This area has been allocated near Panakkad.
A one time backward industrial estate, Malappuram is fast developing and fast building its industrial potential.
Investment in MalappuramWhile at one time Malappuram had relied solely on its traditional forms of industrial outputs it is now fast emerging into the modern arena. For this the government has evolved and spent much time on planning Special Economic Zones (SEZ) for promoting investment, industry and newer areas of services. Thus, the Kakkancherry Kinfra Neo Space Park as also small and medium scale units out the Panyyanad and Majeri Industrial Estate.
Along with industrial progress the government is also paying attention to the basic occupation of the people of this area which is agriculture. Therefore, they are also developing improvement in seeds and planting techniques. The comprehensive seeds gardens located at Muderi had been established as the biggest seed farm of Asia. It lies just 27 kilometers from Nilambur in Malappuram.
Investment Opportunity in MalappuramThere are several areas of investment opportunities in Malappuram. Of these the most prominent ones are in the information and technology sector. The various IT-enabled services that emerged over the past decade are software development and training of various software. There are two other occupation areas associated with IT which are Business Process Outsourcing (BPO) and Knowledge Process Out Sourcing (KPO).
The food processing area is also being developed and yet holds tremendous scope in the areas of dairy products development and exports besides the grading, packaging and exports of spices. Textile sector also offers several investment opportunities with the need for spinning mills and great interest and investment in the manufacturing of apparels, as well as garments designing manufacturing.
The tourism sector although having a large influx still needs to be invested in greatly especially because of the tremendous scope for the setting up of hotels and hospitality services institution and infrastructure. Tours and travels are also allied services. The biggest scope for investment remains in medical tourism and the development and setting up of ayurveda outlets all over the Malappuram Verdant Region.
Malappuram offers all visitors a very healthy and health-promotive environment. Therefore, there is a wide scope for investment in this area to host business and tourism inputs.