Industries welcome Stalin’s announcements for MSMEs

Govt. plans to release of ₹168 crore to the sector immediately

Industries in Tiruppur and Coimbatore have welcomed the announcements by Chief Minister M.K. Stalin for the Micro, Small and Medium-scale Enterprises (MSMEs).

According to M.V. Ramesh Babu, president of Coimbatore District Small Industries Association, Mr. Stalin’s assurance that steps would be taken to vaccinate all eligible workers would help the MSMEs at this juncture.

The Southern India Engineering Manufacturers’ Association (SIEMA) president K.V. Karthik said the government had fulfilled the demands of the industry just within 48 hours of the industries placing their requirements. Decision to exempt the MOD charges for some more months, release of ₹168 crore and other such measures would help the industries, he said.

A. Sivakumar, president of Coimbatore and Tiruppur District Micro and Cottage Entrepreneurs Association, said in a press release that while the steps announced by the government were welcome, the units had not received several relief measures announced last year. The units should get interest-free loans from banks and moratorium for repayment of interest. The MSMEs should be exempted from GST filing for three months.

Raja M. Shanmugham, president of Tiruppur Exporters’ Association, said the concessions would be of help to the Tiruppur knitwear exports sector.

The units were struggling to sustain operation due to various adverse factors internally and externally. The Central government’s Amended Technology Upgradation Funds Scheme (ATUFS) provided 15% capital subsidy to the garment sector. In some States, the garment units could avail of both the Central and State government subsidies. However, in Tamil Nadu, the units could avail of only one. The units should be permitted to get the subsidies from the Centre and the State, he said.

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