MSME associations welcome T.N. govt announcements for the sector
Industry associations in Tamil Nadu have welcomed the state government's decision to allocate ₹600 crore to clear pending subsidy applications for MSMEs. The move is expected to support micro and small enterprises by easing financial burdens and facilitating infrastructure development.
Why it matters
Financial support for the MSME sector is critical for regional industrial growth and employment generation in India's manufacturing hubs.
Industry associations representing Micro, Small and Medium-scale Enterprises (MSMEs) have welcomed the budgetary allocation by the Tamil Nadu government to clear pending applications for subsidies.
The Tamilnadu Small and Tiny Industries Association president S. Vasudevan said in a press release that allocation of ₹600 crore towards disbursement of subsidies for long-pending applications under the Investment Subsidy scheme was a welcome move.
C. Sivakumar, president of the Coimbatore Tirupur Micro Cottage Entrepreneurs Association, said though the amount required for Coimbatore alone is huge, the enhanced allocation to clear pending subsidy applications will benefit the micro sector.
The announcement to set up a technology centre in Coimbatore and allocating funds for it will also support the industries here as it is one of the long-pending needs, he added.
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