Tamil Nadu Govt To Strengthen MSME Sector With Rs 164 Crore Allocated Under RAMP Programme

ENA State 2024-11-08 14:49:36 Chennai, Nov 8 (KNN) In a significant move to bolster opportunities for Micro, Small, and Medium Enterprises (MSMEs), Minister for MSME and Rural Industries TM Anbarasan inaugurated a district-level buyer-seller meeting on Thursday, aimed at promoting products manufactured by MSMEs. The initiative, part of the government's ongoing efforts to enhance market access and stimulate industrial growth, brings together local manufacturers and potential buyers, including international participants, in a shared forum. Addressing the press post-inauguration, Minister Anbarasan highlighted the state's progress towards becoming a leader in industrial development. The governments consistent efforts have helped position the state closer to achieving the top rank in industrial advancement, he noted. He outlined a comprehensive allocation of Rs 164 crore under the Union governments Raising and Accelerating MSME Productivity (RAMP) scheme, which supports various initiatives, including the coir industry development scheme, food processing industries, start-up pre-incubation certification, intellectual property rights awareness, and e-commerce guidance for MSMEs. To create wider market opportunities, Rs 5.94 crore has been earmarked for organising buyer-seller meetings across the state, he added, emphasising the value of such events in expanding MSME reach. The meeting saw active participation, with 28 buyers from 14 foreign countries, including Germany, Japan, the USA, and Malaysia, joining over 250 MSME manufacturers from Tamil Nadu. Minister Anbarasan noted that the states first buyer-seller event at the Global Investors Conference in January led to procurement agreements worth Rs 42.68 crore from 174 MSMEs, of which Rs 16.45 crore was attributed to 73 first-time exporters. These interactions demonstrate the growing confidence and appeal of our MSME sector on the global stage, he commented. The minister further elaborated on the financial support extended to MSMEs under the current governments tenure, enabling businesses to showcase their products at domestic and international exhibitions. In the past two years alone, approximately 250 MSMEs have benefited from Rs 5 crore in financial aid for exhibition participation. Highlighting the sector's export potential, Anbarasan noted that Tamil Nadu currently contributes 9.25 per cent to Indias total exports, with further growth reported this year. With initiatives like these, the Tamil Nadu government aims to sustain and enhance MSME growth, paving the way for local manufacturers to engage in larger, more lucrative markets, thereby strengthening the states economic fabric and industrial capacity. (KNN Bureau) 39847 https://knnindia.co.in/news/newsdetails/state/tamil-nadu-govt-to-strengthen-msme-sector-with-rs-164-crore-allocated-under-ramp-programme 2024-11-08 14:49:36 knnindia.co.in Tamil Nadu Govt To Strengthen MSME Sector With Rs 164 Crore Allocated Under RAMP Programme