Tamil Nadu tops with 32% share in total investment proposals filed by MSMEs

Assocham's new report shows TN reported 3rd highest growth in MSME entrepreneurs' memorandum

Tamil Nadu has garnered highest share over 32% in the total number of over 3.62 lakh entrepreneurs memorandum (part-II) filed by micro, small and medium enterprises (MSMEs) across India as of 2013-14, according to a study by apex industry body ASSOCHAM.

The study titled 'States Emergence: A comparative analysis of growth & development,' conducted by The Associated Chambers of Commerce and Industry of India (ASSOCHAM) stated Gujarat (16.2%), Uttar Pradesh (12.5%), Karnataka (7.2%) and Maharashtra (5.5%) were amid top five states in terms of state-wise distribution of entrepreneur memorandum (part-II) filed by the MSME sector in India,

In terms of simple growth, the MSMEs entrepreneur memorandum received by Tamil Nadu had grown by 178.5% from about 41,800 in 2009-10 to over 1,16,390 in 2013-14.

However, the number of memorandums filed by entrepreneurs in the MSME sector in Tamil Nadu grew at a compounded annual growth rate (CAGR) of over 29% during the aforesaid period.

In terms of growth in MSME entrepreneurs' memorandum received by states during the aforementioned period, Jharkhand has clocked highest growth of about 437% followed by Gujarat (193%), Tamil Nadu (178.5%), Maharashtra (67%) and Odisha (60%) that are amid top five states.

While national average growth in this regard was 70% as the number of EMs received by states across India grew from 2.1 lakh in 2009-10 to 3.6 lakh in 2013-14, highlighted the ASSOCHAM study.