CII Southern Region plans to transform and empower MSMEs in the south, Tamil Nadu in particular, to come out with vision documents for six districts in Tamil Nadu and to promote the State as a hub for media and entertainment sectors as part of its broader agenda – South India@75 to South India@100 during FY24 and FY25.

“While South India accounts for about one-third of India’s GDP, Tamil Nadu is the growth engine for the country and has a more special role with a 9.1 per cent share in the country’s GDP. While Tamil Nadu, Karnataka, Telangana, and Andhra Pradesh are top achievers in ease of business doing rankings, Puducherry is also emerging as a business destination. Kerala has aspirations too. Overall, South India will play a vital role in driving GDP growth,” said Kamal Bali, the newly elected Chairman of CII Southern Region (CII-SR) and President and MD Of Volvo Group India.

Handholding MSMEs

He said CII would handhold 2,000 MSMEs, including 800 MSMEs in Tamil Nadu, who will be serviced and sensitised on various elements of competitiveness and digital transformation initiatives. “MSMEs are the major job creators. But they are not able to scale up beyond a particular level. We want these MSMEs to scale up and to go to global standards,” he added.

For the benefit of MSMEs in the region, CII through its ten centres of excellence will conduct two-day programmes in every district over the next 1-1.5 years to make them understand global practices, ways to develop new products and devise business plans, read balance sheets and how to transform and embrace technologies at free of cost” he added.

Credit scheme

Bali also stated that CII would request the Central and State governments to extend the credit guarantee scheme or provide interest subvention for the MSMEs as the hike in interest rates in recent months was impacting the small units.

R Nandini, Deputy Chairperson, CII Southern Region & Managing Director, Chandra Textiles Pvt Ltd said CII would work with the State government in transforming Tamil Nadu as a media, entertainment, and animation hub.

CII would also propose Special Economic Zones (SEZs) in the southern districts of Tamil Nadu and the Chennai - Hosur Industrial Corridor to attract new investments into the State, focusing on new-age industries.