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Coimbatore: Industrial associations here welcomed the Tamil Nadu government’s new industrial policy and cheered the decision to triple the subsidy cap on capital investment from Rs 50 lakh to Rs 1.5 crore. The Coimbatore Tirupur Districts Micro and Cottage Entrepreneurs Association (Cotma) and Indian Chamber of Commerce and Industry (ICCI) called the policy ‘growth oriented’. “We appreciate the decision to increase the cap on capital subsidy, which was 25% or Rs 50 lakh to Rs 1.5 crore. Today, even small industries have a capital outlay of more than Rs 4 crore because of inflation. Rs 50 lakh was a limit set more than a decade ago,” ICCI president Balasubramaniam said. “This will remove a solid portion of the burden from manufacturers.”

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