Chennai

Over ₹5,541 crore GIM investments have fructified in MSME sector, says Rural Industries Minister

P. Benjamin, Minister for Rural Industries including Cottage Industries, Small Industries

P. Benjamin, Minister for Rural Industries including Cottage Industries, Small Industries   | Photo Credit: Photo: B. Jothi Ramalingam

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More than 3,000 firms have commenced operations and created nearly 60,000 jobs, P. Benjamin says

Of the total 12,360 MoUs that were singed in the Micro, Small and Medium Enterprises (MSME) sector during the second edition of the Global Investors Meet (GIM) this January, 3,573 firms have commenced operations and invested Rs.5,541 crore, said P. Benjamin, Minister for Rural Industries including Cottage Industries, Small Industries. These firms have created over 59,631 jobs, he said.

The Minister was delivering the inaugural address at the ‘MSME CEO Summit 2019, Future’ organised by the Confederation of Indian Industry (CII) in Chennai on Saturday. The theme of the summit was ‘Enabling business owners for the future’.

During the second edition of the GIM this year, MoUs worth Rs.32,206 crore were inked in the MSME sector alone. The Minister pointed out that the State government has made efforts to convert all MoUs into investments. “We have also cleared over 95% of applications that the government receives through the MSME single window portal,” he said.

The government is aware of issues pertaining to the MSME sector and we are addressing them, said Rajendra Kumar, secretary, MSME department, government of Tamil Nadu. He added that the State is trying to attract major players and investments in the defence sector and this, in turn, would help the MSME sector.

Kumaran Mani, Convenor, MSME Panel, CII Chennai Zone said that CII would soon conduct a job fair in Chennai to facilitate its members to hire diploma, ITI and other skilled job seekers.

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Printable version | Dec 7, 2019 7:53:12 PM | https://www.thehindu.com/news/cities/chennai/over-5541-crore-gim-investments-have-fructified-in-msme-sector-says-rural-industries-minister/article29862902.ece

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