Coimbatore

Industries welcome announcements for MSMEs

Industries in Tiruppur and Coimbatore have welcomed the announcements by Tamil Nadu 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, the assurance that steps will be taken to vaccinate all eligible workers, and time for statutory steps, will help the MSMEs at this juncture.

The Southern India Engineering Manufacturers’ Association (SIEMA) president K.V. Karthik said the State government had fulfilled the demands of the industry within 48 hours of the industries placing their requirements. Extension of the MOD charges exemption, release of ₹168 crore, etc., would benefit the industries, he said.

A. Sivakumar, president of Coimbatore and Tirupur District Micro and Cottage Entrepreneurs Association, said in a press release that while the steps announced by the State 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 in a press release that the concessions would go a long way for the Tiruppur knitwear exports sector, 95% of which was MSMEs.

The units are struggling to sustain operation due to various adverse factors internally and externally. The Central government’s Amended Technology Upgradation Funds Scheme (ATUFS) provides 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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Printable version | Jun 21, 2021 6:35:45 PM | https://www.thehindu.com/news/cities/Coimbatore/industries-welcome-announcements-for-msmes/article34545527.ece

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