The Tamil Nadu government is creating land banks for MSMEs in Tiruvallur and Kancheepuram districts, said P Benjamin, Minister for Rural Industries, Tamil Nadu. The state government is continuously resorting to various policy interventions, Benjamin said, while addressing the second edition of annual Micro, Small and Medium Enterprise (MSME) CEO Summit 2018.
He also added the government is supporting schemes such as Business Facilitation Act and single-window clearance to support the MSME sector to facilitate ease of doing business in the State.
The president of Tamil Nadu small and tiny industries association, C Babu said, “It is a good step taken in order to support MSMEs.” He added that this step will only be useful if the cost of the land will be affordable for the MSMEs. As the land price in both the districts is very high.
Various business-friendly policies have been introduced by the State government, which includes 25 percent mandatory government procurement from MSMEs, bills discounting facilities, innovation voucher scheme for startups, plot price rationalisation under SIDCO area, besides frequent representations to the RBI have been listed out by Dharmendra Pratap Yadav, Secretary, MSME department, Tamil Nadu.
According to him, this has been done to increase the Non-Performing Assets (NPA) recognition time from 180 days for MSMEs.
Yadav added, “We want to support a minimum of 400 vouchers under the innovation voucher scheme every year.”
The investment climate in the State looked very positive said Ponnuswami, Chairman, CII Tamil Nadu chapter.
“During the roadshow conducted by the CII, we have witnessed an overwhelming response from investors across the country, who wanted to invest in the State,” he said.
Wide range of topics such as Industry 4.0, business growth story, branding, product and communication design, digital marketing and export opportunities for the sector were discussed in the summit. The summit also saw the participation of CEOs from the MSME sector.