The Tamil Nadu Small and Tiny Industries Association (TANSTIA), representing 14 lakh small and micro industries in the state, today offered its support to any political party which accepts their demands.
"The industry in Tamil Nadu has about 2.34 crore voters and they are prepared to support any political party which accepts the Association' demands," TANSTIA President, K Gopalakrishnan told reporters here.
Some of these issues include providing less than eight per cent interest for small and micro units having taken loans upto Rs 25 lakh. These should apply not only for existing units, but also for new units, he said.
He said Non Performing Asset norms should be increased to 180 days from the present 90 days and micro units which have taken loans upto Rs 25 lakh should be exempted from SARFEASI Act, he said.
"Bank interest rates have increased over the last few years and have affected many small industries. Lending rates for SMEs are higher than larger units though SMEs are treated as priority sector," he said.
