New Delhi, Sept 20 (KNN) Through Single window MSME portal, that was recently launched to enable entrepreneurs apply and obtain approvals, licences and renewals applications involving Rs 240.35 crores have been approved. 

The applications have been approved in a time-bound and transparent manner. 

As many as 80 out of 125 applications filed with 240.35 crores of investment have been approved, said P. Benjamin, Minister for Rural Industries, including Cottage Industries, Small Industries, Government of Tamil Nadu.

In his inaugural address at the MSME CEO Summit 2018 be said there are various subsidies rolled out and new initiatives have also been taken by the State government to further boost the MSME sector.

Overall growth of the MSME sector would translate into more employment and holistic development of the economy, M. Ponnuswami, Chairman, Confederation of Indian Industry (CII), Tamil Nadu State Council, said.

Government has come out with a new initiative — Innovation Voucher Programe. It is expected to benefit 400 MSMEs every year to improve their business and promote their innovative ideas and products, said Dharmendra Pratap Yadav, secretary to the government, Micro, Small and Medium Enterprises Department, to support the micro, small and medium enterprises in the State.

He added that the programe is in two categories — Voucher A entry into research with a financial aid of 2 lakh and voucher B entry into market with a financial aid of Rs 5 lakh to turn the ideas into products.