TN announces incentives for MSMEs’ development in the state
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2013-05-08

TN announces incentives for MSMEs’ development in the state

Chief Minister of Tamil Nadu, J Jayalalithaa on Tuesday announced a slew of schemes and incentives in order to boost MSMEs in the state.

Chief Minister of Tamil Nadu, J Jayalalithaa on Tuesday announced a slew of schemes and incentives in order to boost MSMEs in the state.

The CM announced of a special component package including creating more land space to set-up new industrial estates, increasing subsidy to buy machinery and setting up a single window clearance committee for speedy approvals to start the business.

Jayalalithaa speaking in the Assembly also announced that since the price of land is high in and around Chennai and there was not enough space to create industrial estates, multi-storeyed industrial complexes will come up at Thirumazhisai in Thiruvallur district.

She said the subsidy given to industrial units set up at under-developed areas would be increased from 15 per cent of the equipment cost to 25 per cent.

To boost development of industrial estates and MSMEs, CM stated that the state-owned SIDCO would set up a 2,000 acre land bank in a phased manner.

“Land will be sold to entrepreneurs on a non-profitable basis by SIDCO and Rs 16 crore would be given to the state-owned enterprise to further strengthen its financial position,” she further added.

Jayalalithaa also announced that the industrial estates created for big establishments by SIPCOT would allot 20 per cent of industrial space to MSMEs.

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