The long-felt dream of the industry in Tiruchi region to have a trade centre to invigorate the culture of entrepreneurship has gathered momentum with the laying of foundation stone for the project by Chief Minister M. K. Stalin.
The project gained traction last year after the land transfer was effected by Small Industries Development Corporation to the consortium of MSME entrepreneurs.
The ₹11 crore project is to come up on a 9.42-acre expanse close to Tiruchi- Madurai National Highway under the purview of Tiruchi Trade Centre Private Limited, a private limited company, formed by the Tiruchi District Tiny and Small Scale Industries Limited to mobilise the share of the industrialists.
The company was registered on February 21, 2020, with the Ministry of Corporate Affairs. It has been classified as Non-Government Company, and duly registered under Registrar of Companies, Tamil Nadu.
There are about 200 members who have invested ₹3 lakh each as their shareholder contribution in the project of the Tiruchi Trade Centre Private Limited, it's Chairman N. Kanagasabapathy said.
The TIDITSSIA has, for long, been looking at ways to accord a thrust for food processing and textile sectors in region which already has the distinction of being known as the fabrication hub of Asia.
The Government’s grant for the project amounts to ₹5 crore. The project, in all likelihood, will take complete shape within two years, Mr. Kanagasabapathy said.
The vantage location of the trade centre will be advantageous to involve industrialists in the neighbouring districts of Karur and Dindigul also to promote entrepreneurship and infuse vibrancy into the local economy, according to officials.
The trade centre is located at a distance of around 9 km from the Tiruchi Junction and Central Bus Stand, and just 12 km away from the Tiruchi International Airport.
A convention centre with a 4,000 seating capacity is one of the main highlights of the project that also features a large parking space and a landscaped court.
A provision has been made for further expansions in phases.
