In a move to boost the micro, small and medium enterprise (MSME) sector, Tamil Nadu Chief Minister J Jayalalithaa inaugurated the new corporate office of the Small Industries Development Corporation Ltd at Guindy Industrial Estate in the city at a cost of Rs 54.50 crore, and projects worth a further Rs 21.4 crore.
The new Sidco office houses a modern training complex for an entrepreneurship development institute and new or additional buildings for 12 district industries centres.
The training complex for the entrepreneurship development institute has been constructed at a cost of Rs 5.15 crore. The institute is equipped with a 'smart' class room, a conference room, a library and a hostel facility to house 30 persons who may want to do short courses.
Separate industrial centres in 14 districts constructed at a cost of Rs 16.25 crore were also inaugurated by Jayalalithaa on the occasion.
A state government press release stated that MSMEs play a major role in job creation and in boosting exports, as well as in boosting social welfare.
"This (Tamil Nadu) Government has committed to create proper infrastructure, which in turn can increase the production, competitiveness and quality of MSME products," the release added.
These projects, which will give a fillip to the state's MSME sector, cost a total of Rs 75.90 crore, said the state government, which earlier announced series of incentives for the sector.
The state government has increased the capital subsidy on the value of plant and machinery from 15 per cent to 25 per cent, as well as provided back-ended interest subsidy, and sops for tax and power. Also, the New Entrepreneur-cum-Enterprises Development Scheme (NEEDS) offers a subsidy of 25 per cent of project cost, with a three per cent interest subvention provided by the state government.
Tamil Nadu has an estimated 8.43 lakh registered MSMEs with an aggregate capital investment of Rs 30,438 crore and 53 lakh employees. During the years 2011-13, Tamil Nadu registered 161,732 MSMEs.
The new Sidco office houses a modern training complex for an entrepreneurship development institute and new or additional buildings for 12 district industries centres.
The training complex for the entrepreneurship development institute has been constructed at a cost of Rs 5.15 crore. The institute is equipped with a 'smart' class room, a conference room, a library and a hostel facility to house 30 persons who may want to do short courses.
Separate industrial centres in 14 districts constructed at a cost of Rs 16.25 crore were also inaugurated by Jayalalithaa on the occasion.
A state government press release stated that MSMEs play a major role in job creation and in boosting exports, as well as in boosting social welfare.
"This (Tamil Nadu) Government has committed to create proper infrastructure, which in turn can increase the production, competitiveness and quality of MSME products," the release added.
These projects, which will give a fillip to the state's MSME sector, cost a total of Rs 75.90 crore, said the state government, which earlier announced series of incentives for the sector.
The state government has increased the capital subsidy on the value of plant and machinery from 15 per cent to 25 per cent, as well as provided back-ended interest subsidy, and sops for tax and power. Also, the New Entrepreneur-cum-Enterprises Development Scheme (NEEDS) offers a subsidy of 25 per cent of project cost, with a three per cent interest subvention provided by the state government.
Tamil Nadu has an estimated 8.43 lakh registered MSMEs with an aggregate capital investment of Rs 30,438 crore and 53 lakh employees. During the years 2011-13, Tamil Nadu registered 161,732 MSMEs.
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