To be developed by SIDCO on 30 acres at Inam Kulathur
Chief Minister Jayalalithaa has sanctioned an exclusive industrial estate for women in her Srirangam constituency.
The industrial estate, to be developed by SIDCO (Small Industries Development Corporation) on an expanse of 30 acres, would come up at Inam Kulathur. Steps are underway for establishing the industrial estate, Minister for Rural Industries M.C.Sampath said on Friday.
Women entrepreneurs at the industrial estate, he said, would be facilitated to start their enterprises under the newly launched NEEDS (New Entrepreneur-cum-Enterprise Development Scheme), and the UYEGP (Unemployed Youth Employment Generation Programme (UYEGP).
Under NEEDS, educated youngsters would be facilitated to come out with business plans and linked to financial institutions for funding.
The beneficiaries would receive term loans from banks or Tamil Nadu Industrial Investment Corporation. They would be entitled to capital subsidy of 25 per cent of the project cost not exceeding Rs.25 lakh and soft loans with 3 per cent interest subvention or subsidy on interest. The state has earmarked Rs.75 crore in the budget to train the identified youth in vocational and soft skills with the purpose of addressing the demand for skilled labour.
Fifty per cent of the 1,000 prospective entrepreneurs to be trained and nurtured throughout the State under the NEEDS scheme would be women, the Minister assured members of Women Entrepreneurs Association of Tamil Nadu (WEAT), in his address at its sixth anniversary celebration.
The WEAT has expressed to the Minister its intention to start enterprises based on cluster approach at the new industrial estate.
The association, according to its representative, would take the support of the District Industries Centre (DIC) to start multi-product clusters focussing on paper products, jute materials, sanitary napkins, and value-added products of banana.
The Minister advised the DIC in Tiruchi to serve as a model for prompt processing of applications from prospective women entrepreneurs under UYEGP. At least 30 per cent of beneficiaries under this scheme would be women, the Minister said, adding that a subsidy target of Rs.50 lakh had been set for Tiruchi district this fiscal.
Fifty per cent of 1,000 prospective entrepreneurs to be trained under NEEDS Beneficiaries to get capital subsidy of 25 p.c. and soft loans with 3 p.c. interest subvention
Fifty per cent of 1,000 prospective entrepreneurs to be trained under NEEDS
Beneficiaries to get capital subsidy of 25 p.c. and soft loans with 3 p.c. interest subvention