TN rolls out schemes for MSMEs, plans for entrepreneurship growth

MADURAI: Tamil Nadu Chief Minister M K Stalin inaugurated here on Friday new schemes for the growth of Micro, Small Medium Enterprises and a plan to encourage entrepreneurship development.

Presiding over the southern regional MSME meet here, Stalin inaugurated Micro Clusters in southern Tamil Nadu, as part of efforts to ensure sustainable employment opportunities in semi-urban and rural regions.

He inaugurated the toys cluster at Vilacheri here, for hyacinth in Thoothukudi and a women weaving cluster at Virudhunagar, involving a total government grant of Rs 9.05 crore. Stalin launched the CARE (Covid Assistance and Relief to Entrepreneurs) Scheme for MSMEs. A loan/ subsidy initiative, he handed over a cheque of Rs 8.80 lakh to a beneficiary, marking the launch of the new scheme.

He gave away loan assistance to the tune of Rs 64.38 lakh to four beneficiaries under the state government's credit guarantee scheme (TNCGS) and a plan of the TN Industrial Co-Operative Bank (TAICO Bank). So far, under the TNCGS, Rs 20.13 crore is the loan disbursal to 81 MSMEs. The credit guarantee scheme was launched by Stalin last month.

A Memorandum of Understanding was signed between the state government (FaMe-Facilitating MSMEs-Trade and Investment Promotion Bureau) and the Indo American Chamber of Commerce to train MSMEs on Industry 4.0 technologies.

To encourage a thought process involving innovation-entrepreneurship among school students, he inaugurated the "School Innovation Development Project of Entrepreneurship Development Innovation Institute" (EDII).

In the first phase (2022-23), awareness programmes on innovation/ entrepreneurship would be held for about 1.56 lakh students from class 9 to 12 in state-run and government aided schools besides over 3,000 teachers.

The scheme involves cash prize ranging from Rs 25,000 to Rs 1 lakh for student groups, who come up with 40 best innovative proposals on entrepreneurship.

He presented state-level best performance awards for five firms and three PSU banks for extending enhanced credit facilities to MSMEs.

He inaugurated the online scheme of registration of Memorandum of Deposit of Title Deed and Equitable Mortgage. The move is set to help beneficiaries and bank officials as they will not be required to spend time on physical registration.

So far, registrations are done at the Sub-Registrar's office when loans are availed and also on repayment for cancellation purposes. About 6.5 lakh beneficiaries including MSMEs would be benefited. He launched an online scheme for units in state-run Small Industries Development Corporation (SIDCO) to avail 12 kinds of services including No-Objection Certificate to seek bank credit.

The Chief Minister inaugurated common amenity buildings at SIDCO industrial estates in Karur and Ramanathapuram districts at a project cost of Rs 2.83 crore. He released the "Compendium of Government Schemes for MSMEs-2022."

State Ministers including Tha Mo Anbarasan (MSMEs) and top officials participated in the event.