The traditional coir industry in Kerala is all set to get a boost with the CPI(M)-led LDF government launching an exclusive company to market various coir products.
A cabinet meeting, chaired by chief minister Pinarayi Vijayan, today gave the nod to set up the private limited company with an authorised capital of Rs 10 crore.
The company would be titled 'Kerala Coir Marketing Private Limited, an official release said here.
The firm is being set up to make the traditional sector competent with the support of modern technology and ensure marketing and sale of coir products, it said.
The state government would have 49 per cent share in the proposed firm while the remaining 51 per cent share would be vested with the Kerala State Coir Corporation and similar firms, it added.
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