 "The 'Report of the Expert Committee on MSMEs' of 2019 (Chairman: U K Sinha) noted that most large firms deal with MSMEs on a credit basis; and given that buyers do not honour invoices on time, these firms face a financial crunch. MSMEs, on their part")
Tamil Nadu accounts for 15 per cent of the country's micro, small and medium enterprises sector, employing about 14 million people, Minister for Industries T R B Rajaa said on Tuesday.
As much as 30 per cent of the state's industrial output is contributed by the MSME sector, he said at an event here.
The state leads in women-run micro, small and medium enterprises with over 10 lakh units helmed by them, Rajaa said, after launching the Confederation of Indian Industry Tamil Nadu Micro Entrepreneurs Forum here, in the presence of CII Director General Chandrajit Banerjee, CII past president R Dinesh and CII Southern Region Chairperson R Nandini, among others.
"As we launch this new CII project aimed at supporting micro enterprises, I want to emphasise the government's commitment to fostering entrepreneurship and job creation. The MSME sector alone contributes to 30 per cent of the state's industrial output and 45 per cent of exports," Rajaa said.
According to CII officials, micro entrepreneurs of Chennai, Coimbatore, Tiruppur, Erode, Karur, Tiruchirappalli, Madurai, Tuticorin and Salem will be supported under the initiative, initially.
"The first ever intervention of the Centre of Excellence on Employment and Livelihood is starting in Tamil Nadu, thanks to the support of key departments in the state," CII's erstwhile president Dinesh said.
"Progressive initiatives by both the government and the industry have fostered an enabling environment for MSMEs. However, the needs of microenterprises differ from those of small and medium enterprises. With the support of TVS Mobility, we are launching the Puthiya Payanam: Valarchiyai Noki project to support 1,000 micro entrepreneurs from nine districts," he said.
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CII Southern Region Chairperson Nandini said, "Tamil Nadu stands as a beacon of resourcefulness and skilled labour, making it one of the India's premier investment destinations."
Supporting the micro enterprises is crucial as we move towards Viksit Bharat and Tamil Nadu's goal of becoming a USD 1 trillion economy, CII Tamil Nadu Chairman Srivats Ram said.
"This will enhance livelihoods and generate more employment, driving the development of both the state and the country," he added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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