Tamil Nadu Woos Small Industries By Increasing Generator Subsidy | SupportBiz

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Tamil Nadu Woos Small Industries By Increasing Generator Subsidy

 
Tags: Tamil Nadu
Chennai, Jan. 29: In an attempt to fight the shortage of electricity and boost the manufacturing in the state, Tamil Nadu announced an increase in the subsidy for generators used by the small scale industries. They have announced an increment of more than 300% ranging from 1.5 - 5 lakhs.

In a report published in New Indian Express, statement from the Government on Sunday said the Chief Minister had ordered an increase in subsidy on generators that will help MSME to fight against the problem of shortage of electricity.

The rise in the subsidy will apply to MSMEs using generators of or up to 320 KVA for their industrial needs.

Speaking to New Indian Express, S Ravikumar, President of Coimbatore Tirupur District Micro and Cottage Entrepreneurs Association (COTMA), said, “Apart from the revision in the subsidy amount, increasing the generator capacity to be covered under the scheme was a long pending demand. This would benefit the MSME.”

Tamil Nadu Government also made an announcement that they would soon commence developing infrastructure at the Malumichampatti Industrial Estate, under the Integrated Infrastructure Development Scheme.

Several other schemes that have been announced by the Tamil Nadu government including the Chief Minister’s scheme to encourage the development of first-generation entrepreneurs, the MSME Cluster Development Programme and the programmes implemented by the Tamil Nadu Small Industries Development Corporation (SIDCO) and Tamil Nadu Industrial Investment Corporation (TIIC).