Initiatives for Benefit of Textile MSMEs Is Planned by Tn Govt

The government of southern Indian state of Tamil Nadu is planning to soon launch new schemes and facilities for the benefit of Micro, Small and Medium Enterprises (MSMEs), including textile MSMEs, in the state.
 
Speaking at the inaugural ceremony of Coimbatore Economic Summit 2012, Mr. Harmander Singh, Industries Commissioner and Director of Industries and Commerce, said the state government will soon unveil more initiatives for MSMEs in the state.
 
He said Rs. 1 billion was allocated by the state government for MSMEs in 2011-12 and the sum would cross Rs. 1.5 billion for the current fiscal, and the amount would exceed Rs. 2 billion if the subsidy provided by the Central Government is also taken into account.
 
Mr. Singh said the state government offered reimbursement of value added tax, introduced employment guarantee programme for unemployed youth, provided subsidy to purchase generator sets and even offered capital subsidy – all to promote MSMEs in the state.
 
Tamil Nadu has the largest number of MSMEs in the country. It also employs 15 percent of the total workforce employed in MSME sector across India.