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Coimbatore district needs more ITIs, says Pollachi MP 

January 24, 2023 06:57 pm | Updated January 26, 2023 10:15 am IST - COIMBATORE

The growth of a district depends on the annual credit plan, advances received, and total deposits with the bank and Coimbatore has the potential to attract the investment of multinational companies, said Pollachi MP K. Shamugasundaram, here on Tuesday.

Interacting with the members of the Indian Chamber of Commerce and Industry, Coimbatore, Mr. Shanmughasundaram said the total deposited amount in the banks in the district had increased from ₹ 65,430 in 2019 to ₹ 89,705 in 2022.

He said the advances received by the agriculture and allied sector, Industries, and MSMEs in the district stood at ₹ 87,608 crore in 2020. The annual credit plan for the district in 2022 was ₹ 22,712 crore, but the amount spent was ₹ 30,650 crore, which was 135% higher.

Nearly 1,10,363 registered enterprises were functioning in Coimbatore that employed 7.20 lakh people. As many as 3.35 lakh persons were employed in 51,000 unregistered enterprises, he added.

The district needed at least 50 Industrial Training Institutes, which currently had 12, and he said he had urged the Ministers to consider increasing the number of ITIs in the district.

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