The statue has been made out of ebonite and shows the singer holding a tanpura.
Subbulakshmi was the first singer to be presented with the Bharat Ratna, the country's highest civilian award and was also the first Indian musician to receive the Ramon Magsaysay award, a release said.
The Governor also inaugurated a portrait gallery on "MS and her life's achievements" which includes her meeting with luminaries like Mahatma Gandhi, Khan Abdul Gaffar Khan, Lord and Lady Mountbatten, Sarojini Naidu, Pope John Paul, Queen Elizebeth, Indira Gandhi and Dr S Radhakrishnan.
The Governor also presented 15 promising young artistes with the Dr. M S Subbulakshmi fellowships which carry a cash award of Rs 1 lakh each for three years to pursue their career in the field of music of their choice.
MS, who passed away at 88 in 2004, was an ardent devotee of Kanchi Mahaswamigal and rendered his composition Maithreem Bhajatha "O World! Cultivate peace" in her concert at the UN in 1966.
