TN govt to give priority to infrastructre development

Chennai, Feb 12 (UNI) The Tamil Nadu government will accord utmost priority to infrastructure development for setting up industrial base, according to Federation of Indian Chambers of Commerce and Industry (FICCI) Chairman S Nagarajan.

Speaking at the summit on 'Going global to become SMEs of the future' here today, Mr Nagarajan said in order to promote small and rural industries, the state government had identified industrially backward and SSI units that were eligible for grant of state capital subsidy, low tension power tariff subsidy and other concessions.

"Other initiative to improve the infrastructure development includes single window committee, testing laboratories, awards, Delayed Payment Act, functional industrial estate and purchase preference to SSI units," he added.

As per FICCI statistics, with over 3,80,000 small firms in the state, Tamil Nadu was home to nearly 12 per cent of India's 3.3 million SMEs. These small firms account for nearly 80 per cent of Tamil Nadu's Industrial employment, about 40 per cent of state industrial output and 35 per cent of state's total exports.

The two-day summit aimed at chartering a roadmap that would acquire Indian SMEs a prominent position on the global map and identify the responsibilities of all those connected with the important task of enhancing economic development.

UNI