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Micro units welcome State government’s MSME policy Updated: Updated: Share Article AAA The micro units here have welcomed the MSME policy announced by the State government on Tuesday as it has increased the capital subsidy ceiling. “This is a welcome move that will help micro units expand,” said J. James, president of Tamil Nadu Association of Cottage and Tiny Enterprises. The plan of the government to infuse funds into Tamil Nadu Industrial Investment Corporation (TIIC) is another announcement that will benefit the MSMEs, said C. Sivakumar, president of Coimbatore and Tiruppur Dist...

State’s new policy evokes mixed response from micro, small and medium enterprises Updated: Updated: Many units are sceptical about targets and strategies Share Article Many units are sceptical about targets and strategies Ahead of the Assembly election, the Chief Minister has rolled out a policy for the MSME sector which has been grappling with various issues over the last five years. Though industrial estates said they welcomed the policy, many were sceptical about the targets and strategies listed in it. Some even said there could have been a little more detailing to solve the immediate...

Canara Bank has disbursed loans to seven micro units that have only current account with the bank.J. James, president of Tamil Nadu Association of Cottage and Tiny Enterprises, said this was a major d

Industries place various demands before CM Updated: Updated: Share Article AAA Industry associations submitted their demands to Chief Minister Edappadi K. Palaniswami at an interaction he had with the heads of the associations here on Friday. The Joint Council of Industrial Associations of Coimbatore sought single window clearance online for industries that want to get building plan approval. The 6 % interest subvention provided to MSMEs should be extended and collateral free loans up to ₹ 3 crore through the Tamil Nadu Industrial Investment Corporation. It also sought 25 % capital subsidy...

Coimbatore: As many as 16,967 micro small and medium enterprises (MSMEs) have registered at the Udyam registration portal in the district as on Friday. The District industrial Centre (DIC) had warned the industrialists not to become prey to fraudulent activities as the registration process should be carried out only at http://udyamregistration.gov.in and it is free of cost. The central government has recently reclassified the definition of MSMEs with effect from July 1, 2020. With an investment in plant and machinery or equipment up to Rs 1 crore and an annual turnover of up to Rs 5 crore i...