Minister T.M. Anbarasan distributed subsidies worth ₹6.54 crore to 46 entrepreneurs in Coimbatore on various schemes. The event also included discussions on facilitating investments and addressing issues faced by MSMEs.
Coimbatore: The Tamil Nadu government has reinforced its commitment to fostering entrepreneurship by distributing subsidized loans to small and medium-scale enterprises in Coimbatore. The event, held at Codissia Trade Fair Complex, saw the participation of Minister for Micro, Small and Medium Enterprises (MSMEs), T.M. Anbarasan, who engaged in discussions with industry representatives.
During the function, subsidies totaling ₹6.54 crore were distributed to 46 beneficiaries under various schemes. These included the Annal Ambedkar Business Champions Scheme, New Entrepreneur cum Enterprise Development Scheme, Unemployed Youth Employment Generation Program, Prime Minister's Employment Generation Programme, and Prime Minister's Formalization of Micro Food Processing Enterprises Scheme.
Minister Anbarasan highlighted the progress made since the Global Investors Meet held in January under Chief Minister M.K. Stalin's leadership. He stated, "5,068 MoUs were signed in the MSME sector during the meet. However, only 1,645 units have commenced production in the past eight months." The minister emphasized that the government is actively working to address the challenges faced by entrepreneurs who have received bank loans but haven't started their businesses yet.
Anbarasan further elaborated on the government's achievements, saying, "In the past three years of DMK rule, bank loans worth ₹2,615.30 crore have been disbursed to start businesses. We have created 30,324 entrepreneurs, providing employment to 3 lakh people." He also mentioned the establishment of 16 industrial parks across Tamil Nadu at a cost of ₹415 crore, with plans for ten more parks at an investment of ₹115.6 crore.
The minister addressed concerns about electricity charges, stating that Tamil Nadu's rates are lower compared to other states. He blamed the previous AIADMK government's agreement with the central government's UDAY scheme for the current tariff levels. Responding to complaints about banks refusing loans despite proper documentation, Anbarasan informed that retired bank officials have been appointed in each district to address such grievances.
The event was attended by MSME Department Secretary Archana Patnaik, Coimbatore District Collector Kranthi Kumar Pati, Coimbatore MP Ganapathy Rajkumar, and other government officials.