Tamil Nadu

Global Investors Meet: Govt got Rs 5K crore investments from Chennai MSMEs

Express News Service

CHENNAI: Micro, Small and Medium Enterprises (MSME) Minister TM Anbarasan said the state government was able to woo investment worth Rs 5,566 crore from Chennai district alone after signing 293 memorandums of understandings for Global Investors Meet, scheduled for January 7 and 8. 

This is more than the target fixed, which was Rs 4,368 crore. The investments will be in auto components manufacturing, aerospace and defence equipments, electronic gadgets, IT equipment, trading, etc, and is likely to generate 26,477  jobs, the minister said during the roadshow organized here.

This is the third such roadshow organized by the MSME department. Earlier, similar roadshows were organised in Chengalpattu and Kanchipuram. In Chengalpattu, 163 MoUs were signed for investments worth Rs 2,590  crore, which is Rs 90 crore more than the target. This would generate 9,000 jobs.

The investments are likely to come from auto component manufacturers, aerospace and defence sector, food processing sector, etc. Similarly, in Kanchipuram, 320 MoUs worth Rs 4,102.77 crore were signed, generating 18,404 jobs.

The minister also said 26,480 applications were received under the Single Window 2.0 where  163 services are provided. Of these, 24,117 proposals pertain to entrepreneurs. The minister said for the development of MSMEs, five types of self-employment schemes are being implemented by the government.

A total of 30,981 graduates have been transformed as entrepreneurs, by providing an amount of Rs 1,099.86 crore as subsidy, with a bank loan of Rs 30,890.59 crore. A total of 1,065 SC/ST candidates have been transformed as entrepreneurs, by providing an amount of Rs 126.84 crore as a subsidy, with a bank loan of Rs 256.07 crore.

He said in Chennai, an amount of Rs 53.94 crore has been disbursed as subsidy with Rs 175.07 crore bank loan. Through that 1,622 graduates have been transformed as entrepreneurs. These include 1,014 women and 367 Dalits.