Chennai: To ensure a balanced industrial growth in all states, Tamil Nadu Small Industries Corporation Limited (TANSIDCO) will immediately establish four industrial plantations at a cost of Rs 218.22 Crore for UMKA units in Tiruvallur, Chengalpet, Trichy and Madurai.
The plantation, to produce a cost of RS 394 Crore, will help create 7,000 jobs, the Minister of Industry is Rural T M Anbarasan told the Assembly on Thursday.
Clusters will be established in Manapitarai in Trichy, Sakkimangalam in Madurai, Kodur in Chengalpet and Kaverirajapuram in Thiruvallur.
The private industrial park in Kinathukadavu in Coimbatore Regency will also be established by Coimbatore Sidco Industrial Estate Manufacturer (Cosiia) with RS 9.06 Crore TN Grant.
This plantation is expected to create 1,000 jobs, said Anbarasan.
TANSIDCO will also establish a sculptor at Thirukalukundram Taluk in the Chengalpet district on 19 hectares with a cost of Rs 23 Crore to provide direct work to 100 craftsmen and indirect work to 1,000 people, he said.
The MSME department has increased capital subsidies by 50% to Rs 75 Lakh from Rs 50 Lakh under the Enterprise Enterprise (Needs) Entrepreneur Development Scheme, Premier Entrepreneurial Program.
Educational qualifications for assistance under the scheme will be added two.
Through Tanseed, the country will provide grants of each of Rs 10 lakh each of 50 startups each this year.
“Previously, the minimum requirements were graduation or ITI or polytechnic qualifications.
Most unemployed plus two meet the requirements and they lose the scheme.
This step will allow more young people to become entrepreneurs,” said Secretary of MSME Arun Roy to Ti.
In other significant steps, the industry and the MSME department have initiated the MoU between TIIC and Taico Bank, an industrial cooperative bank with around Rs 1,200 Crore in deposits, to pave the way for greater sanctions on the number of loans.
Mou will likely be signed soon.
“Bank Taico cannot lend to MSMEs because it does not have a project assessment capacity.
At the same time, it has a banking license and can provide a working capital loan.
TIIC has a project assessment capability, but therefore not a bank, is not allowed to provide working capital,” said Roy.
“After the MOU is signed, for the same client, TIIC can provide a loan period and Taico Bank can provide top-up of futures loans and also work capital loans.
This will be a win-win situation for everyone,” Roy added.