FaMe TN, an autonomous agency under India’s Tamil Nadu State Government, recently signed memoranda of understanding (MoUs) with 100 micro and small enterprises (MSMEs) to attract investments over Rs. 1,500 cr. It also signed an MoU with the Small Industries Development Bank of India (SIDBI) to facilitate loans for MSMEs. The units will be established in multiple sectors, including textiles, across the state and are expected to generate around 7,400 jobs.
State Chief Minister M K Stalin was present at the signing event to mark the International MSME Day, according to reports from the State. Stalin launched other initiatives and schemes as well on the occasion and inaugurated three industrial estates of state-run Tamil Nadu Small Industries Development Corporation Limited at Kodur, Manapparai and Sakkimangalam.
Steps are being taken to set up six more industrial estates in the state. The recommendations of N Sundaradevan committee on MSMEs is being implemented as short-term, medium-term and long-term projects, the Chief Minister added.