Coimbatore, Mar 21 (KNN) The Industry associations in Coimbatore have welcomed the announcements made for the industrial sector in the state budget 2023-24, which was presented in the Assembly on Monday.

During the Budget Presentation, the Tamil Nadu finance minister Palanivel Thiaga Rajan announced four industrial parks to bet set up in Virudhunagar, Vellore, Kallakurichi, and Coimbatore at an estimated cost of Rs 410 crore for providing employment opportunities to nearly 22,000 persons.

He also announced the TNTech City in three cities to promote Tamil Nadu as a global hub for Information Technology. An allocation of Rs 3,268 crore has also been made to the Industries Department in this Budget.

Speaking to TNIE, CODISSIA (Coimbatore District Small Industries Association) president V Thiurgnanam said that the announcements will generate more job opportunities for the unemployed youths in district.

"Our youth can work in their hometown instead of going in search of jobs in the IT sectors in Chennai, Bengaluru and Hyderabad, due to the announcement of the TNTech City project. This will revolutionise the IT industry in Coimbatore.”

Ravi Sam, Chairman, the Southern India Mills' Association (SIMA) pointed out the announcement to set up new SIPCOT industrial parks, was the need of the hour.

Sam appreciated the announcement regarding scaling up of skill training infrastructure in a massive way, where factories have been proposed to be used as Skill Development Centres.

Federation of Coimbatore Industries Associations (FOCIA) coordinator and Tamil Nadu Association of Cottage and Tiny & Micro Entrepreneurship (TACT) Coimbatore district president J James told TNIE, “the government's announcement of allocating Rs 1,509 for the MSME Department and the medical assistance welfare schemes for the migrant labourers working in the industries is appreciable.”

"Although the majority of the announcements are from the development perspective, we industrialists are a bit disappointed as the government didn't revoke the hiked electricity tariff for industries and there was no announcement regarding the MSME park," he added.

The Indian Chamber of Commerce and Industry Coimbatore district president B Sriramalu said that the chamber welcomes the seven key announcements made in the budget, including the metro rail, Semmozhi Poonga, and announcement for targeting bank loans to the tune of Rs 30,000 crore for Women self-help groups.  (KNN Bureau)