Chennai, Apr 19 (KNN) To promote budding entrepreneurs in the state, the Principal Secretary of Micro, Small and Medium Enterprises Department, Dharmendra Pratap Yadav has said that the state government is working towards a startup policy.

Towards the startup policy initiative, Yadav said that the venture fund will be created as a part of startup policy.

He said this while addressing the gathering at the diamond jubilee celebrations of Tamil Nadu Small and Tiny Industries Association (Tanstia).

On appreciating Tanstia's contribution in growth and development of small and tiny industries in Tamil Nadu, Managing Director of Tamil Nadu Small Industries Development Corporation Ltd (TANSIDCO) said that TANSTIA played an important role in SIDCO’s growth.

TANSTIA had also organized technical and managerial training programs for the small industries and offered valuable guidance to entrepreneurs.

With 17.20 lakh registered Micro, Small and Medium Enterprises (MSME) units in Tamil Nadu, President of Tanstia, C. Babu lauds the efforts of stakeholders who contributed a important role in the instrumental growth of MSME sector in the state.

He also applauded the state government for its efforts towards boosting small scale industries.

Around 10,073 memorandum of understandings (MoUs) were signed with investors to start MSME units during the Global Investors Meet held in the year 2015, with an investment of Rs 16,533 crore.

The association honored all its past presidents and those who contributed to the growth of the small scale industry during the event. (KNN/YV)