Chennai, May 26 (KNN) Highlighting the growth of Tamil Nadu, MSME Minister T M Anbarasan said on Thursday that the state holds third ranking in the start-up sector owing to the initiatives taken by the DMK-led government.

Emphasising on the strong presence in the MSME sector, he said the state boasts of 49 lakh MSME units.

He was speaking at a conference titled ‘Sustainable cluster development in the state of Tamil Nadu - A holistic approach,’ organised by Associated Chambers of Commerce & Industry of India (Assocham).

“MSMEs play a crucial role in employment generation, export, rural economic growth and overall economic development,” he said.

“These units contribute 9.22% to the country’s GDP. Tamil Nadu’s textile sector holds a share of 19.4% in the industry, while the state accounts for 32.5% of car exports and 33% of leather product exports. These are significant contributions of MSME industries,” he said.

Mega clusters are being established in Thirumudivakkam and Tindivanam with government subsidy.

Construction of multi-storey industrial complexes in Guindy, Ambattur and Salem costing Rs 175 crore is under way to accommodate 364 industries, he said.  (KNN Bureau)