DINDIGUL
In the last four years, the District Industries Centre (DIC) here has given loans to 72 neo-entrepreneurs to the tune of ₹ 40 crore through banks with subsidy component of ₹ 9 crore, according to Collector M Vijayalakshmi .
Speaking to The Hindu here on Tuesday, the Collector said that youngsters, who had a good academic track record, were given exposure on setting up industries by the DIC and became proud entrepreneurs in the district.
With the objective of encouraging the young generation to become entrepreneurs, Tamil Nadu Chief Minister Edappadi K Palaniswami had accorded advances under the NEEDS (New Entrepreneur Cum Enterprise Development) Scheme with financial incentive.
Over the last four years, the beneficiaries have set up manufacturing facilities to produce engineering goods, textile products, weaving, agro-related products such as milk processing among others in a small way.
“Close to 1000 people were directly benefited through these 72 beneficiaries,” the Collector said.
According to P. Rajasekaran, who has established his own milk processing unit at Siluvathur - Adigaripatti here, says, he has taken a loan of ₹ 1.81 crore with ₹ 30 lakh subsidy from the Tamil Nadu government a year ago.
“I have big players in the milk sector in the market. Hence, I decided to directly sell my produce to end users. Today, I sell 3000 litres directly to end consumers without any middlemen or vendors in the district daily. The remaining of about 5000 litres of milk, I transport it to coastal areas, where the market has not been tapped yet by existing players. Hence, after the overheads, I still have a margin,”he says and adds that he has a good market for his paneer, ghee and other additions too.
Another neo-entrepreneur Muthuvenkatesh says that the fire to become an entrepreneur was sown in his mind when he was pursuing his MBA in Coimbatore.
After his classmate Vinod Kumar's father encouraged them to become job givers, the two came together and set up a weaving unit at East Palamarathupatti here. Taking a loan of about ₹ one crore and subsidy of ₹ 25 lakh, the two have installed imported machinery about six months ago. “We have about 10 workers in the plant. We get yarn and after sizing them, give it back in a finished form in the market...,” he adds.
The District Industries Centre General Manager S. Marudappan says, despite COVID-19, the neo-entrepreneurs have shown extra ordinary skills and patience. Training-cum-awareness programmes, to the selected applicants under the NEEDS, by roping in experts include tapping the markets for them, giving them guidance on return on investments and repayment and legal procedures. The swift approvals and single window clearance had helped the first-time entrepreneurs to face the market with confidence, he pointed.
A public sector undertaking banker in the district says the advances were issued to the applicants based on the project reports. Repayment schedule has been encouraging that 94 % of the borrowers have been prompt in their repayment.
Despite COVID-19, the readiness to work for extra hours showed that the entrepreneurs were eager to keep up their deadlines with their customers, DIC officials here said.
The neo-entrepreneurs do have grievance with the district administration. They want the officials to be liberal in issuing e-passes for faster mobility of finished goods and transportation of raw materials. The government can consider relaxing small and tiny units to work on Sundays as the lockdown affects their production.
