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India's Tamil Nadu state govt agency signs MoUs with 100 MSMEs, SIDBI

30 Jun '23
1 min read
Pic: Shutterstock
Pic: Shutterstock

Insights

  • FaMe TN, an agency under India's Tamil Nadu government, has signed MoUs with 100 micro and small enterprises to attract investments over ₹1,500 crore.
  • An MoU was also signed with the Small Industries Development Bank of India to facilitate loans for MSMEs.
  • The units will be set up in multiple sectors, including textiles, and may generate 7,400 jobs.
FaMe TN, an autonomous agency under India’s Tamil Nadu state government, recently signed memoranda of understanding (MoUs) with 100 micro and small enterprises (MSMEs) to attract investments over ₹1,500 crore. It also signed an MoU with the Small Industries Development Bank of India (SIDBI) to facilitate loans for MSMEs.

The units will be established in multiple sectors, including textiles, across the state and are expected to generate around 7,400 jobs.

State chief minister M K Stalin was present at the signing event to mark the International MSME Day, according to media reports from the state.

Stalin launched other initiatives and schemes as well on the occasion and inaugurated three industrial estates of state-run Tamil Nadu Small Industries Development Corporation Limited at Kodur, Manapparai and Sakkimangalam.

Steps are being taken to set up six more industrial estates in the state. The recommendations of N Sundaradevan committee on MSMEs is being implemented as short-term, medium-term and long-term projects, the chief minister added.

ALCHEMPro News Desk (DS)
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