Tamil Nadu MSMEs secured Rs 5,541 Cr investments, says rural industries minister

The investments from micro, small and medium enterprises also enabled creation of 5.96 lakh jobs in the sector, P Benjamin said after inaugurating the third edition of CII MSME CEO Summit in Chennai.

4th Nov 2019
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Tamil Nadu Rural Industries Minister P Benjamin (Image credits: nba 24x7)

Tamil Nadu Minister for Rural Industries P Benjamin on Saturday said the state government has attracted Rs 5,541 crore worth of investments from 3,573 small and medium enterprises during the second edition of the Global Investors Meet held in January.


The investments from micro, small and medium enterprises also enabled creation of 5.96 lakh jobs in the sector, he said after inaugurating the third edition of CII MSME CEO Summit in Chennai.


Benjamin said the government had put in place the concept of ease of doing business and a single window portal for the MSME sector to facilitate the functioning of the industries.


The principal secretary to the MSME department Rajendra Kumar said the state has become a preferred destination for MSMEs due to the sudden explosion in the entrepreneurial activity in the IT sector and also in emerging areas.


A dedicated desk has been set up in every district of the state to help the MSMEs in settling dues related to the sector from the industries.


Chairman of CII Tamil Nadu council S Chandramohan said the trade body has been taking initiatives to support MSMEs' growth, including exclusive portals for them.


During a discussion on why TN is a favoured investment destination and how can it be improved, speakers at a recent YourStory event mentioned the fact that the state recorded the second-highest growth in India and the third highest GDP for an Indian state.


Its new policies in the fields of bio-technology, aerospace, IT (revised), electric vehicle, online business facilitation and many others have been propelling this growth. The state also enjoys advantages in logistics and through ports that are available, and an uninterrupted electricity supply.


Anthony Lobo, Honorary Consul of Spain, also recently commended the availability of educated manpower and also lauded the state for using English as a standard form of communication which makes it a favourable business destination.




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