MSME Policy of Tamil Nadu
MSME stands for Micro Small and Medium Enterprises. MSME Policy of Tamil Nadu has been introduced in the state of Tamil Nadu long time back. This policy plays a very vital role in Tamil Nadu as it has its own existence since a long time.
The MSME Department of Tamil Nadu deals with policy matters of the state that relates to the MSME sector and formulates schemes for better development in that sector. The Commissionerate of Industries & Commerce, the Entrepreneur Development Institute (EDI) and the two State Public Sector undertakings viz., Tamilnadu Small Industries Corporation Limited (TANSI) and Tamilnadu Small Industries Development Corporation (TANSIDCO) functions under the administrative control of the MSME Department.
This Commissionerate has been existing for more than 100 years and is considered as one of the oldest in the state. The Commissionerate of Industries and Commerce prepares these schemes through the General Manager District Industries Centres in the 31 districts. In Chennai, the Regional Joint Director directs the schemes. The Centres provide many services to the entrepreneurs, like the preparation of project profiles, identification of activities, obtaining financial assistance from various financial institutions, sanction, and disbursement of eligible subsidies and facilitation in obtaining delayed payments and statutory clearances from Government Departments.
This MSME Policy in Tamil Nadu was welcomed by all the industries in Tamil Nadu. This industrial policy for micro, small and medium enterprises was announced by the Chief Minister recently that removes the impediments in the growth of the industries, as implemented by the Coimbatore District Small Industries Association.
Muthusamy, the President of the association said in a release that this new policy will focus on having a healthy competition among micro, small and medium companies that in turn will improve the quality of the products and further provide growth of the enterprises as well.
It is believed that this policy will increase the growth rate of the industries and hence give way to add jobs and encourage more entrepreneurs in the market.This policy will make the micro, small and medium enterprises in the state that will increase competition and generate more employment opportunities. The Coimbatore Chapter of the Confederation of Indian Industry believes that this policy will benefit the industries and the enterprises in turn.
Implementing the proposals in this policy will surely help the industries to flourish in the state. Some of the features that the association welcome subsidy for a purchase of capital goods and subsidy to associations to conduct seminars were the single application form to get the license to run a unit, and classes to improve working skills.
In many ways, this MSME Policy in Tamil Nadu has proved to be an efficient one by improving the working of industries in the state.