Tamil Nadu Government announces sops for various sectors including MSMEs

New Delhi, June 13 (KNN) Tamil Nadu government has announced a slew of sops for various sectors including the Micro, Small and Medium Enterprises (MSME) under which it would be setting up an agency to attract foreign investment and cooperation in state MSMEs.

Besides getting foreign cooperation for MSME units, the proposed agency will work towards attracting investment, said Chief Minister K Palaniswami.

According to media reports, in a suo motu statement, he said, "It will function as a coordinating agency for providing single window clearance for MSMEs in Tamil Nadu, to enter into agreements with trade and industry bodies and those proposing investment policies.”

Further, to enable government promote innovative ideas and create entrepreneurs, he declared that an innovation policy will soon be rolled out.

Adding to this, policy will be formulated in line with the state government's Vision 2023 document which envisages a 11 per cent GSDP by that year, he said.

Palaniswami also announced a subsidy scheme for research and development in the MSME sector.

Further, he made number of announcements in the Assembly concerning the departments of Courts and Prisons, Social Welfare and Differently-Abled.

These included construction of various facilities for judicial officers, setting up of jammer equipment in the Puzhal, Tiruchirappally, Madurai, Palayamkottai jails and five women's prisons to prevent use of mobile phones by inmates.