Tamil Nadu constitutes committee for revival of MSMEs

Tamil Nadu government on Wednesday constituted a committee consisting of experts and entrepreneurs to look into challenges faced by the Micro, Small, and Medium Enterprises (MSMEs), and suggest measures for the sector’s revival.

In a statement, the MSME department said the committee was being constituted in line with an announcement made in the Governor’s address. Tamil Nadu has over 8.5 lakh MSMEs and the sector employs over 20 lakh persons. Several MSMEs are under severe stress due to losses incurred during the Covid-19 lockdown.

The Committee for Revival of MSMEs in Tamil Nadu will be headed by Dr N Sunderadevan, Former Industries Secretary of Tamil Nadu.

The members of the committee include Prof. M Vijayabhaskar, Professor, Madras Institute of Development Studies (MIDS), Bindu Anand, former Member of RBI Committees on financial inclusion, SME Finance and Securitization, and N Balasubramanium, former Chairman and Managing Director, Small Industries Development Bank of India (SIDBI).

Other members of the committee are Hemalatha Annamalai, Cofounder and Ex-CEO Ampere Vehicles (Electric Vehicle) and Past Chair, TiE Women, Israr Ahamed, Regional Chairman, Federation of Indian Export Organisations, Anburajan, President, Tamil Nadu Small and Tiny Industries Association (TANSTIA), and R Anand, Ex-partner, Ernest and Young and Chartered Accountant.

The committee will have Secretaries from Finance, Industry, as ex-officio members, Industries Commissioner as member convener, and Chairman of the State Level Bankers Committee. The Committee will look into the challenges faced by the MSME sector in Tamil Nadu and will suggest immediate, medium-term and long term measures required for the revival of the MSME sector.

“The Committee will suggest measures needed to improve loan facility to MSMEs and to boost exports by MSMEs. It will also look into infrastructure, ease of doing business and manpower related issues that are affecting MSMEs,” a senior official said.

The Committee has also been asked to suggest measures to promote industrial growth in backward regions of the State, the official said, adding that the committee will submit its report within three months.