Tamil Nadu Industrial Investment Corporation Launches Special Campaign For MSMEs

Chennai, Aug 17 (KNN) The Tamil Nadu Industrial Investment Corporation (TIIC), a state-promoted finance corporation, has announced a special business campaign to support micro, small, and medium enterprises (MSMEs) in the region.

The initiative, running from August 18 to September 6, coincides with the corporation's platinum jubilee celebrations.

TIIC's Tirunelveli Branch, located on the second floor of Hotel Sakunthala Shopping Complex on Thiruvananthapuram High Road, will spearhead the campaign.

The program aims to provide financial assistance to both new and existing manufacturing and service enterprises under various schemes.

During the campaign, TIIC officials will offer detailed presentations on their financial products, including the New Entrepreneur cum Enterprise Development (NEED) Scheme for first-generation entrepreneurs, the Annal Ambedkar Business Champions Scheme, a state capital subsidy of up to Rs 1.50 crore for eligible categories, and a 5 per cent back-ended interest subsidy for technology upgradation and modernisation of existing MSMEs.

As an incentive, TIIC is offering a 50 per cent discount on 'investigation fees' for loan applications submitted during this period.

The corporation encourages aspiring entrepreneurs to take advantage of this opportunity by submitting their business plans to access loans and various subsidies.

For more information, interested parties can contact 0462-2502038, 9444396830, or 9444396881.

TIIC has played a significant role in industrial development since its inception, providing financial support to numerous manufacturing and service-related units with backing from the Tamil Nadu government.

(KNN Bureau)