SME/SMB

Tamil Nadu (India) unveils separate policy for MSMEs

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The Government of Tamil Nadu has unveiled an exclusive policy for the micro, small and medium enterprises (MSMEs) sector with a vision to enhance the competitiveness of the sector and aim for sustained annual growth rate of over 10 per cent for MSMEs.

Apart from encouraging agro-based industries, the MSME policy also envisages generation of 1 million direct and indirect employment opportunities during the 11th Five Year Plan period. The MSME policy focuses on infrastructure development, incentive schemes, technology development, subsidy schemes for units located in industrially backward areas, skills development, marketing support, deregulation and simplification, administrative reforms and policy support for MSMEs in the state. The policy prescribes reservation of 20 per cent of the land in all Sipcot estates for MSMEs and up to 30 per cent for micro industries within Small Industries Development Corporation (SIDCO ) estates. SME unit has urged the Central Government to provide 30 per cent reservation of allottable area to them within the premises of specialised manufacturing SEZs. The new policy document describes about establishment of multi-storeyed buildings in industrial estates for micro industries and liberal floor space index (FSI) for plotted development up to 1.75 FSI for industrial sheds. Under the new policy, an infrastructure subsidy of 20 per cent will be given to the development of private sector industrial estates for the first time in the state and 50 per cent rebate on stamp duty and registration charges will be given to micro and small enterprises set up in industrial estates and industrially backward areas.

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