Pacts have been signed with 495 micro, small and medium enterprises (MSME) in Vellore district for investments to the tune of Rs. 984.09 crore, said Jagmohan Singh Raju, principal secretary of MSME.
Holding a consultative meeting with MSMEs and banks on Wednesday, Mr. Raju said through the recently held Global Investors Meet, Memorandum of Understanding have been signed to enable investment to the tune of Rs. 16,523.67 crore through 10,073 MSMEs for the next two years. Of this, MoUs for investment of Rs. 984.09 crore have been entered with 495 MSMEs in the district, according to a press release.
He noted that it was important for growth in the agriculture sector, micro and small industrial sector for economic growth of the country in the future.
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The meeting discussed the difficulties faced by investors in starting enterprises, including in getting approval from banks and government departments.
Some of the hitches faced included getting electricity connection from Tamil Nadu Generation and Distribution Corporation. Another problem faced was in getting nod from the Tamil Nadu Pollution Control Board to set up grinding mill for groups comprising farmers for ‘samai’ in Yelagiri Hills. The investors also appealed to look into difficulties in getting bank loans, the release added.
The official said that these problems could be solved smoothly. The manager of District Industries Centre would submit a report of the problems highlighted to Chennai office from where it will be forwarded to the respective departments. Steps to obtain solutions will be taken in the next few days, he assured.
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He urged the investors to bring such problems to the notice of the authorities immediately to get it solved at the earliest. Collector R. Nanthagopal was present during the meeting, the release added.