The Hindu Business Line : CII welcomes State’s policy for small units

Chennai, Feb. 24 The Confederation of Indian Industry has welcomed the Tamil Nadu Government’s initiative in announcing an exclusive policy for micro, small and medium enterprises (MSME).

A press release from CII quoting Mr Gopal Srinivasan, Chairman, CII-Tamil Nadu State Council, said the policy would make the units here more competitive, spur industrial growth and employment generation.

Identifying electrical and electronic components, leather, automobile parts, pharmaceuticals and garment industries as thrust areas would catalyse these industries.

Thank the govt

The CII thanked the State Government for accepting its recommendations on providing capital subsidy on power to MSME units, funds for rehabilitation of sick units and infrastructure in industrial estates. Ms Gayathri Sriram, Convenor, MSME Panel, CII Tamil Nadu, said the policy provides for inclusive growth and development of tier II and III towns through measures to encourage investments in backward areas and subsidies for disabled SC/ST youth.

The move to allocate a portion of land in industrial estates for MSMEs will help them access the common infrastructure available in these places.

Subsidy for technology development and modernisation would support global competitiveness, the release said.

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