NT Bureau : Chief Minister MK Stalin is motivating and driving every sector to scale our States GDP to $1 trillion by 2030, among which MSMEs would make its major contribution, says T M Anbarasu, State Minister of MSME. Addressing MSME Summit 2022 , organised by FICCI, Anbarasu said with 7.76 lakhs of MSME units, we are the second largest State in the country to support this sector. In terms of employment it stands next to agriculture as it provides highest rate of employment with least investment.He also asserted that Tamilnadu is the only State which has granted investment subsidies in single instalment to support MSME even during the covid crisis. 2784 firms have received a sum of 169.44 crores of investment subsidies in a single spell which normally takes three spells. So far the Government has granted Rs.266 crores of investment subsidies to 8142 graduated youth and further it has relaxed the educational qualification as HSC (+2) to enable more opportunities to downtrodden. The newly formed Government has received 6838 MSME applications and shortly 5512 were approved after scrutiny.
As a step towards expansion of industries the newly formed Government has announced 6 industrial estates in 6 districts (Tiruchy, Thiruvallur, Madurai, Chengalpattu, Cuddalore, Thuthukudi) with an area covering 496 acres at a cost of Rs.279 crores which would become ready to function in less than an year. Apart from bringing new industries we also try to promote existing industries and utilize the plots in the existing industrial estate, he said. Special instruction has been given to Tamilnadu Industrial Co-op Bank Ltd (TAICO) for deviating from the core purpose of supporting MSME and unfortunately focussing on jewel loans and mortgage. T M Anbarasu assured that this Government would consistently enhance the support to MSME in forthcoming days and entrepreneurs can avail best out of it, he added Speaking at the event, H Sripad, Deputy General Manager, Indian Bank identified working capital cycle as one of the major drawbacks in MSMEs.
Vinod Jaswal, General Manager, SBI, looks the growth from a national perspective and commented I feel happy that Tamilnadu, which is in third position in terms of MSME exports with nearly 9% of market share is partnering with the vision of Central which aims at $5 trillion GDP for the entire country. Dr GSK Velu, Chairman, FICCI Tamilnadu State Council & CMD, Trivitron/Neuberg Group of companies thanked Tamilnadu CM and MSME Minister for being supportive in the covid crisis and for remarkable initiatives taken within a year of new Governance. Most Significant facility is the single window portal that enables MSME to get approval, clearance and NOC from all Government departments.
Bupesh Nagarajan, Co Chairman FICCI Tamilnadu State council and Founder & CEO, Indira projects & development Pvt.Ltd said that the new government has been very supportive to MSME which was evident by sanction of 500 industrial unit allotment in SIDCO in a short span.P. N Vasudevan, Convenor, FICCI Tamilnadu MSME Panel and MD, Equitas Small Finance Baank said, ‘Our State comprises of 10% of Indias total registration in MSME Sector. For running them effectively a reliable business model has to be designed to ensure financial stability to industries and the bankers. He also thanked Honourable Minister T M Anbarasu for assuring that any grievances or obstacle in this sector would be properly addressed to ensure sustainability and growth of MSMEs.’