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The Tamil Nadu government will announce a new policy to encourage medium, small and tiny industries, Chief Minister J Jayalalithaa announced in the Assembly on Monday.
Global competitivenessTamil Nadu is among the leaders in the MSME sector with over 11 lakh units having a cumulative investment of over ₹67,000 crore and employing over 60 lakh people. The government will soon announce the new policy that will encourage the medium, small and tiny industries and make the State the Asian hub for this sector.
Jayalalithaa also said with a well-established base in the MSME sector, a multinational study will be conducted to enhance the global competitiveness of this sector.
The Chief Minister also announced a ₹ 100-crore, multi-storeyed industrial building will be constructed in Guindy industrial estate, in Chennai, to provide space for MSME and tiny industries.
This will help to address the space constraint in the industrial estate which was started in 1958.
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