MoU on ₹650-cr. investment in MSME sector

The Global Investors Meet 2019 Road Show in Tiruchi on Monday witnessed assurances from entrepreneurs for investment of ₹650 crore in MSME sector in the district.

The agreements for investment were made in the presence of Ministers ‘Vellamandi’ N. Natarajan and S. Valarmathi.

Explaining the advantages of Single Window Facilitation for MSMEs, Mr. Natarajan said the government was keen on improving the ease of doing business in Tamil Nadu. State public undertakings were fostering MSMEs through procuring 25% of their requirements from the latter. Opportunities for investment in the sector were numerous owing to the presence of BHEL, Golden Rock Workshop and Ordnance Factory. Units in SIDCO industrial estates had scope for securing outsourcing orders from these industries.

The opportunities in textile-related activities, IT, and manufacture of fly-ash bricks and m-sand must be explored further, he said.

The Minister was hopeful of growth in export of processed vegetables, cut flowers and other products through the international airport in Tiruchi.

Ms. Valarmathi said 20% of the 1,000-acre SIPCOT industrial park to come up at Mondipatti near Manapparai would be allotted for MSMEs.

Collector K. Rajamani presided over the meet.

General Manager of District Industries Centre M. Chidambaram; Branch Manager of SIDCO M. Anitha; Branch Manager of Tamil Nadu Industrial Investment Corporation S. Ravindran; Lead Bank Manager (IOB) K. Govindan; president of CII Tiruchi Zone A.S Ananthakrishnan; and MPs and MLAs took part.

Source