Nagercoil: The small industries sector continued to have an edge over others in controlling the nation's economy and in generating employment, said the Collector, Sunil Paliwal.
Taking this into consideration, the enhancement of investors ceiling on small industries has been announced as per Micro, Small and Medium Enterprises Development Act 2006, promulgated in October last year.
The Collector further added that the salient features of the Act were: stress would be laid on the growth of the service and the investment ceiling for manufacturing small enterprises was also raised to Rs.5 crore.
Industries were being substituted with an optional filing of memorandum by micro and small industries, the ceiling on fixed investment in plant and machinery for manufacturing enterprises was limited to for micro-enterprises at Rs.25 lakh for small enterprises and Rs.5 crore for the medium enterprises. The ceiling for the fixed investment in plant and machinery for service enterprises had been limited to Rs.10 lakh for micro-enterprises, Rs.2 crore for small enterprises and Rs.5 crore for medium enterprises.
Entrepreneurs who had already availed SSI registration should come forward to make use of use of the provisions under the Act by filing memorandum with the General Manager, DIC in Nagercoil.