MoUs for Rs 1,723 crore investment signed in Tamil Nadu, expected to generate 30,000 jobs

Chennai: Investments worth Rs 1,723.05 crore were confirmed at the International Micro Small and Medium Enterprises (MSME) Day function held under the chairmanship of Chief Minister M K Stalin here on Tuesday while a special government scheme for SC/ST entrepreneurs was also launched. The MoU, signed in the presence of the Chief Minister, would help in creating employment for about 30,000 people.

A Memorandum of Understanding between FaMe TN (Facilitating MSMEs in Tamil Nadu) and SIDBI (Small Industries Development Bank of India) was inked to attract investments worth Rs 1,510 crore to provide jobs for 7,400 people.

The Chief Minister inaugurated three new industrial estates at Kodur in Chengalpattu district, Manapparai in Tiruchirappalli and Sakkimangalam in Madurai district at an estimated cost of Rs 153.22 crore providing employment to 21,500 people and also a cashew processing cluster at Kadampuliyur in Cuddalore district under the MSME cluster development scheme for Rs 2.16 crore including a government subsidy of Rs 1.81 crore.


A virtual business-to-business (B2B) pavilion aimed at creating a market opportunity was also launched on the occasion, an official release here said. The first Common Facility Centre under the Micro Cluster Development programme and sectoral trade exhibition was also inaugurated.

Stalin launched the Annal Ambedkar Business Champions Scheme (AABSC) to empower SC/ST entrepreneurs and issued sanction orders for extending subsidies to the tune of Rs 18.94 crore to 100 beneficiaries to mark the birth centenary of former Chief Minister M Karunanidhi. He handed over the key of an earthmover to a beneficiary. MSME minister T M Anbarasan and officials participated in the event.

Speaking on the occasion, Stalin said the state government was giving special attention to the development of MSME sector that contributes greatly to the economic development of Tamil Nadu.

As announced by the government, efforts were on to establish four major clusters -- one each in Tindivanam for pharmaceutical products, and Thirumudivakkam for precision engineering -- and steps are underway to prepare detailed project reports (DPRs) for setting up aerospace and defence macro cluster and Smart Mobility automobile cluster, the Chief Minister said.

A total of 6,257 startups have registered in Tamil Nadu on the Startup India platform and the number of enterprises registered in the last two years since the DMK came to power is more than double of the registrations from 2016 to 2021, indicating a positive growth graph, he said.