Revival package for Kerala's cashew processing industry on the anvil

The state government said it has helped over 170 private companies to restart operations in the recent past, through talks with various banks

The crisis-ridden cashew processing industry in Kerala is expecting a special revival package from the state government. 

The industry is reeling under the burden of mounting non-performing assets (NPAs), owing to higher wages, trade union issues and shortage of local raw cashew.

Kerala chief minister will be meeting trade union representatives and bankers before announcing the package. 

Industry representatives already had a meeting with the chief minister earlier this month and had told the state to change the wage structure and attach performance conditions to it. Some of the banks have resumed giving loans to the industry, which helped some factories to restart.