Tamil Nadu plans new policy for MSME sector

CM Jayalalithaa says over 11 lakh MSMEs have invested Rs 67,000 cr in the state

The Tamil Nadu government is planning to introduce a new policy for the Micro Small and Medium Enterprises (MSMEs) sector.

Chief Minister J Jayalalithaa today said that the state government will come out with a new policy for MSME sector. 

Through the policy, the state wants to increase competitiveness of the MSMEs and start a research at international levels, she added.

The research study would compare the competitiveness of MSMEs in the state with of similar units operating at global level. Based on the findings, the state would take steps to improve the sector in Tamil Nadu.

The state has over 11 lakh MSME units with over Rs 67,000 crore invested by these units, said Jayalalithaa, claiming that no other state in country has invested in MSMEs on such a large scale. The sector employees around 60 lakh people in the state.

"We want to make Tamil Nadu as the MSMEs capital of Asia and hope this policy would help to achieve the vision," said Jayalalithaa.

She also announced a multi-storey industrial complex that will be built inside the Guindy Industrial Estate, one of the oldest estates in the country, with an outlay of Rs 100 crore.