India Markets open in 3 hrs 2 mins

Tamil Nadu MSMEs pumped Rs 5.5k crore investment to create these many jobs

FE Online
good news jobs, jobs in Coal India Limited, jobs in CIL, CIL to hire 7000 people, jobs in india, CIL plans to hire, hiring in india, sarkari naukari

Skilling, Labour, Talent for MSMEs: Micro, small and medium enterprises of Southern state Tamil Nadu has enabled generation of 5.96 lakh jobs in the MSME sector with the investment worth Rs 5,541 crore attracted by the state from 3,573 MSMEs during the second edition of the Global Investors Meet that was organised in last January, P Benjamin, Minister for Rural Industries, Tamil Nadu said on Saturday as reported by PTI. The minister said that the government is providing ease of doing business and a single-window portal for small businesses to boost industries functioning. Benjamin was speaking at the CII MSME CEO Summit in Chennai.

In order to help MSMEs recover their dues on time, the government has also set up a dedicated desk in every district of Tamil Nadu for settling dues from the industries.

Tamil Nadu has the biggest share of 15.07 per cent of MSMEs in India. The state has 6.89 lakh registered MSMEs that produces more than 8,000 varieties of product for a total investment of more than Rs.32,008 crores, according to the state government website. The core areas for MSMEs include auto parts and components, readymade garments, leather, and leather goods.

Also read: Now book movie tickets on Amazon; Jeff Bezos company offers new service in India as it turns super-app

Growth of small businesses has been among the key focus areas for the Ministry of MSME including raising its contribution to the country's GDP from current 29 per cent to 50 per cent and creating additional five crore jobs in coming five years. The government is also looking to change the MSME definition based on turnover instead of investment in plant and machinery by manufacturing and services MSMEs.

The World Bank had recently ranked India at 63rd position up from 77th last year in its annual Ease of Doing Business rankings for improvements including obtaining permits to build a warehouse now costs 4 per cent of the warehouse value which is down from 5.7 per cent in the last year. Also, authorities enhanced building quality control in Delhi by strengthening professional certification requirements, the World Bank had said in a statement. It also noted ease in Importing and exporting for businesses with setting up of a single electronic platform for trade stakeholders, upgrades to port infrastructure and improvements to electronic submission of documents.