CHENNAI: Tamil Nadu’s interim budget has earmarked Rs 1,943 crore for the Micro, Small and Medium Enterprises (MSME) department.
Presenting the allocations, Finance Minister Thangam Thenarasu said the state-run Tamil Nadu Startup and Innovation Mission has rolled out flagship initiatives such as the Tamil Nadu Startup Seed Fund (TANSEED) and a dedicated Space Technology Fund, while work is under way to establish a broader Fund of Funds to crowd in private capital.
Tamil Nadu, home to more than four million registered MSMEs, has seen bank credit of Rs 10.7 lakh crore flow to the sector over the past five years. To expand industrial capacity, the Tamil Nadu Small Industries Development Corporation has developed 18 new industrial estates during this period, generating 3,735 jobs.
Support for traditional industries remains a parallel focus. Under the Kalaignar Kaivinai Thittam, nearly 23,900 artisans across 25 handicraft categories have received approvals, enabling Rs 405 crore in credit and Rs 83 crore in subsidies. The state has also begun work on a gold jewellery park in Coimbatore at a cost of Rs 81 crore.
To ease cash-flow constraints, Tamil Nadu has launched the TN TReDS platform to cover 1,461 enterprises through transactions worth Rs 5,171 crore so far.