Rags to Riches... CM M.K.Stalin working on Empowering the Youth

Hosur: Tamilnadu ranks first in terms of Industries and factories. In the same way, the State also acquired the top position in attracting more angel investors. On the other hand, the state government is working strenuously to lure MNCs. But all these measures didn't stop the state government from encouraging young entrepreneurs, and upcoming start-up organisations to flourish. Through various MSME schemes, very many youngsters benefitted at a higher rate of improvement. One such young entrepreneur Aravindan, an engineering postgraduate, shares his experience.

Lay-off during COVID:

"After my studies, I started working as an Assistant Professor. COVID and the lockdown took a heavy toll on the education department of the state. I lost my job and started to hunt for any kind of work opportunity in Hosur. As it is an industrial hub I hoped to get employed. Only then I got to pick up some knowledge of the Automobile Industry. Even though I performed and scored well in my studies I was yearning to start my own business.

Upto ₹38 lakh Loan with 25% Subsidy:

When I wished to start my own business I was in need of at least ₹20 or ₹30lakh. As I hail from a normal middle-class family I cannot afford such a budget for my business. Only at that time, I learned about the MSME self-employment opportunities through some of my friends. To acquire detailed knowledge of the schemes I contacted the District MSME General Manager. He introduced me to the 'Needs' scheme which provides loans for 95% of the business' budget with a 25% of government subsidy.

Under that particular scheme, my application to start a business was approved with a recommendation to the bank. My budget was ₹40 lakh and I received ₹38 lakh as a loan and only ₹2 lakh from my own pockets.

Tamilnadu Government made Aravindan, an Entrepreneur:

Out of ₹38 lakh loan, ₹25 lakh was the subsidy I received from the Tamilnadu Government. For the past year, as a young, new entrepreneur I earned ₹10 lakh Planning to earn another million rupees over the next year. With my earnings, I invested in a few modern machines for my business. Everything I am today was possible only because of the Tamilnadu Government. At this moment I would like to express my gratitude for Tamilnadu CM M.K.Stalin".

When Aravindan was questioned on his challenges while approaching Government offices he states, "I got the approval for my business within a month of application. Once all my certificates were verified all the officials personally reached out to me for the entire process. I didn't go in search of them. In 3 months I started my production in the business.

Everyone attends some college, finishes up some course and then acquires any kind of job that comes their way. All of us are picking up the same path that everyone around us is choosing. But only when we take a diversion from that usual path, we get to know about the diverse opportunities that are available around us. From a middle-class background, I raised to be a young entrepreneur. This is not at all a mere achievement. Without the Tamilnadu Government, I never would have imagined this success".

₹ 25 lakh to ₹75 lakh Subsidy:

Krishnagiri District MSME Manager Balamurugan explains, "Through our district MSME centre we bring more number of opportunities for our youngsters who dream to start their own business or start-up. Through 'Needs' scheme there is an opportunity to avail of a loan from ₹10 lakh up to ₹5 crore. Tamilnadu Government provides ₹25 lakh to ₹75 lakh subsidies. The major qualifications needed to avail of this opportunity is the person should have a +2 qualification, in the age group of below 45. For Physically challenged people and SC/ST category people can get an additional 10% subsidy. The Youngsters of Tamilnadu should grow through self-employment opportunities is the major goal of the state government".

From Ball Pins to Parts of Aeroplane:

There are more than 3 thousand small, micro industries are functioning under the Krishnagiri jurisdiction. These industries are manufacturing everything from ball pins to aeroplane body parts. 'Needs' scheme's major qualification is that the person who wishes to avail loan should be a first-generation entrepreneur.

Krishnagiri Collector Jaya Chandra Bhanu states that "Under the leadership of CM Stalin, we are implementing various schemes for the industrial sector. Instead of just aiding the big industries, the government aims to create more opportunities for youngsters to acquire their dream of entrepreneurship. In the past year, nearly 20 young entrepreneurs succeeded in their own businesses through the 'Needs' scheme. PMEGP schemes helped nearly 76 entrepreneurs.

The succeeded youngsters not only raised themselves but instead created employment opportunities for many people. This was entirely possible only by the Tamilnadu Government".

CM Stalin's OneNote policy:

Hosur MLA Thali Prakash, "CM Stalin is following the footsteps of former Chief Minister M.Karunanidhi. Many giant Industries are marching towards Hosur. In our District, we have industries from food production to aeroplane parts manufacturing units. CM Stalin's rule introduced this 'OneNote' policy that aids any business to start functioning swiftly. To encourage medium, small and micro industries various schemes are getting introduced by the Tamilnadu Government continuously. Post Covid, the process had been simplified".