Tamil Nadu Minister for Rural Industries T.M. Anbarasan said that the government would include schemes for the revival of MSMEs and will go for more job creation in the sector which has faced the brunt of the Covid-19 pandemic.
The minister was addressing a webinar “What Tamil Nadu Needs: SICCI Policy Recommendations for the New Government”. , organized by the South India Chamber of Commerce and Industry (SICCI). The minister in his speech said that the sector has been badly hit following the second wave of the pandemic.
The minister said, “The MSMEs are badly hit by financial stress, workers returning back to their respective states and the hike in production costs”. He said that the government is envisaging a scheme and a package for the revival of the MSMEs which includes job creation offsetting the job losses as well as digitalizing the sector to face the modern challenges.”
He said, “The state government has already announced a capital subsidy for MSMEs and waived off registration fees till December and several other steps will be taken to revive the sector as it is affecting 1.52 crore jobs under 23.60 lakhs MSMEs.”
RM Arun, president, SICCI, pointed out that the MSMEs have been facing a lot of stress during the Covid-19 pandemic, and are finding it difficult to avail of working capital from the banks. He suggested measures including loan moratoriums for MSMEs.
Anbarasan said that the government will consider the suggestions and pointed out that Tamil Nadu is the third biggest state in the country for MSMEs after Uttar Pradesh and West Bengal. The state has 23.60 lakh MSMEs employing 1.52 crore people.