Published On: Tue, Jun 16th, 2015

TIIC to encourage entrepreneurs

G. Srinivasan, Deputy General Manager, TIIC, receiving loan papers from an entrepreneur ata loan mela in Tiruchi on Monday.— Photo: A.Muralitharan

The Tamil Nadu Industrial Investment Corporation has identified a few industrial areas with good potential and prospects for entrepreneurs. To start with, it has planned to encourage entrepreneurs who come forward to set up fishing net manufacturing units in the region, said G. Srinivasan, Deputy General Manager.

Speaking on the sidelines of a special loan mela for promoting the Micro Small and Medium Enterprises (MSME) here on Monday, he said that one of the entrepreneurs had set up a fishing net manufacturing unit near Manapparai for which the TIIC had extended finance. There was a good scope for setting up similar industries in this belt, he said adding that efforts would be taken to organise a few motivation camps. The nets were export-oriented with a growing demand for the same.

Mr. Srinivasan urged the entrepreneurs to take up innovative ventures for which the TIIC would extend credit. For the current year, the TIIC had fixed a target of Rs.1,500 crore for the State including Rs. 94 crore for the Tiruchi region. A large number of rice mill owners in Tiruchi and Pudukottai districts benefited from the working capital loan of the TIIC.

Rani Muralitharan, president, Women Entrepreneurs Association of Tamil Nadu (WEAT), said the TIIC had been playing a crucial role in extending credit facility to genuine borrowers. She asked the entrepreneurs to produce farm implements taking into consideration the growing demand for the same in this part of the state.

P. Veerabadran, Branch Manager, Small Industries Development Corporation (SIDCO), said the contribution of marginal money was a major constraint for young entrepreneurs particularly those hailing from middle or upper middle income groups. He urged bank officials to grant loans to these entrepreneurs under the credit guarantee scheme. He suggested simplification of procedures for ensuring speedy industrial growth in central districts of the state.

S. Kandasamy, General Manager, District Industries Manager, asked the entrepreneurs to take to value-added agro-based industries and food processing units which fetched assured profit.

P. Raju Rebero, president of Tiruchi District Tiny and Small Scale Industries Association, urged the entrepreneurs to utilise the subsidy-based schemes being implemented by the TIIC.

K. Sushil Kumar, Branch Manager, TIIC, Tiruchi, said out of the target of Rs. 94 crore for the current financial year, a maximum of Rs. 50 crore would go to short-term loan for contractors and Rs.34 crore to other categories.

A good number of entrepreneurs participated in the loan mela and three of them submitted projects for about Rs.7.50 crore. Mr. Kumar said the projects related to setting up of corrugated box unit for Rs. 5 crore and beverage unit for Rs. 2 crore.

[“source – thehindu.com”]