Trade body submits memorandum to uplift and revive Coimbatore MSMEs
The Coimbatore chapter of the Indian Chamber of Commerce and Industry Monday submitted a memorandum to Tamil Nadu Chief Minister MK Stalin in Chennai. The memorandum listed infrastructural needs and ease of doing business in Coimbatore.
It requested the Chief Minister to implement the proposals of the N Sunderadevan Committee for the revival of the Micro, Small and Medium Enterprises (MSMEs).
With the region comprising Coimbatore, Tirupur, Erode, and Karur and they being major textile hubs, the state government should get one of the seven mega textile parks sanctioned by the Centre, said the memorandum. Coimbatore, often known as the ‘Manchester of South India’ (for the enormous support it provides to the textile industry), is garnering prominence in Tamil Nadu’s business community.
A copy of the memorandum released by the president of the chamber, C Balasubramanian, said there was a need to create an industrial estate for pumpsets, wet grinders, jewellery, and manufacturing electrical vehicles.
The chamber sought to create a Coimbatore Tirupur Metropolitan Development Authority akin to Chennai Metropolitan Development Authority to help to undertake projects like ring roads, bus terminus, wholesale market and airport expansion, among others.
Recently, Walmart and Flipkart have announced the signing of an MoU with Tamil Nadu’s Department of MSMEs, to establish long-term cooperation for providing capacity building support to MSMEs in the state.
On this occasion, Stalin had also highlighted, "Tamil Nadu is home to one of the largest number of MSMEs in the country that are renowned all over the world for their product quality and craftsmanship. Our MSMEs are the backbone of our economy, and their growth is key to helping us achieve our vision of making Tamil Nadu a $1 trillion economy by 2030.”
With schemes such as the TN Electronics, Hardware and Manufacturing Policy 2020, TN Electric Vehicle Policy 2019, TN Combined Development Building Roads 2019 and more, the city has the potential to become one of India’s significant manufacturing hubs.