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Coimbatore District Small Industries Association (Codissia) has said that the MSME-friendly measures announced in the Tamil Nadu budget would help the sector establish its market share nationally.
It also welcomed the move to allocate ₹60 crore as infrastructure support for new industrial estates since it would give a fillip to industrial development in Tamil Nadu.
In a statement, EK Ponnuswamy, President of Codissia, said steps like the reduction in VAT on air compressors and pumpsets and withdrawal of input tax credit reversal on inter-State sale to the extent of 3 per cent, etc, would help the MSMEs in the State to become competitive and establish their market share nationally. The formation of entrepreneurial and business acceleration centre would also help promote new entrepreneurship in the State.
He said other MSME-friendly steps like starting of an online portal for single window clearance for MSME investors would make the process of doing business easy and support their growth, paving way for employment generation and higher GDP growth.
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