TN rolls out schemes for MSMEs, plans for entrepreneurship growth

Tamil Nadu Chief Minister M K Stalin inaugurated here on Friday new schemes for the growth of Micro, Small Medium Enterprises and a plan to encourage entrepreneurship development.
Presiding over the southern regional MSME meet here, Stalin inaugurated Micro Clusters in southern Tamil Nadu, as part of efforts to ensure sustainable employment opportunities in semi-urban and rural regions.
He inaugurated the toys cluster at Vilacheri here, for hyacinth in Thoothukudi and a women weaving cluster at Virudhunagar, involving a total government grant of Rs 9.05 crore. Stalin launched the CARE (Covid Assistance and Relief to Entrepreneurs) Scheme for MSMEs. A loan/ subsidy initiative, he handed over a cheque of Rs 8.80 lakh to a beneficiary, marking the launch of the new scheme.
He gave away loan assistance to the tune of Rs 64.38 lakh to four beneficiaries under the state government’s credit guarantee scheme (TNCGS) and a plan of the TN Industrial Co-Operative Bank (TAICO Bank). So far, under the TNCGS, Rs 20.13 crore is the loan disbursal to 81 MSMEs. The credit guarantee scheme was launched by Stalin last month.
A Memorandum of Understanding was signed between the state government (FaMe-Facilitating MSMEs-Trade and Investment Promotion Bureau) and the Indo American Chamber of Commerce to train MSMEs on Industry 4.0 technologies.