New Delhi, Sep 20 (KNN) Land banks for MSMEs in Tiruvallur and Kancheepuram districts is being created by the Tamil Nadu government, said P Benjamin, Minister for Rural Indusries.

Government is continuously resorting to various policy interventions, Benjamin said while addressing the second edition of annual Micro, Small and Medium Enterprise (MSME) CEO Summit 2018.

He also added that the government is supporting schemes such as Business Facilitation Act and single-window clearance to support the MSME sector to facilitate ease of doing business in the State.

Talking to KNN president of Tamil Nadu small and tiny industries association, C. Babu said, “It is a good step taken in order to support MSMEs.”

He added that this step will only be useful if the cost of the land will be affordable for the MSMEs. As the land price in both the districts is very high.                              

Various business-friendly policies introduced by the State government which includes 25 per cent mandatory government procurement from MSMEs, bills discounting facilities, innovation voucher scheme for start-ups, plot price rationalization under SIDCO area besides frequent representations to RBI have been listed out by Dharmendra Pratap Yadav, Secretary, MSME department of the Tamil Nadu Government.

According to him, this has been done to increase the Non-Performing Assets (NPA) recognition time from 180 days for MSMEs.

Yadav added, “We want to support a minimum of 400 vouchers under the innovation voucher scheme every year.”

The investment climate in the State looked very positive said Ponnuswami, Chairman, CII Tamil Nadu chapter.

He said, thanks to the single-window clearance and a host of other supportive measures taken by the State government.

“During the roadshow conducted by CII, we have witnessed an overwhelming response from the investors across the country who wanted to invest in the State,” he said.

Wide range of topics were discussed in the summit such as Industry 4.0, business growth story,branding, product and communication design, digital marketing and export opportunities for the sector.

The summit also saw the participation of CEOs from the MSME sector.