Tamilnadu to Offer New Entrepreneur and Enterprise Development Scheme for Aspiring Youngsters

Emblem of the State Government of Tamil Nadu u...

Tamil Nadu, which has the highest number of MSMEs in India, will equip all District Industries Centres in the 32 districts with better infrastructure at a cost of 50 crore. These centres can then serve as a hub to promote MSME units.

The government has also decided to train nearly 1,000 entrepreneurs under a new scheme. The ‘New Entrepreneur-cum-Enterprise Development Scheme’ (NEEDS) will help educated youngsters draw up business plans and tie up with financial institutions for their ventures. At least half the beneficiaries of this scheme will be women.

The beneficiaries will get term loans from banks or Tamil Nadu Industrial Investment Corp, a state sponsored financial institution. They will get a capital subsidy at 25% of the project cost not exceeding 25 lakh and soft loans with 3% interest subvention, or a subsidy on interest. The government has set aside 100 crore as capital subsidy and other assistance under the scheme.

The government will set up business incubation centres and training academies exclusively for small and medium industries at Elcot-promoted special economic zones in Chennai, Trichy, Coimbatore, Madurai, Tirunelveli, Salem and Hosur.

Though there is a demand for skilled labour, many educated youngsters remain unemployed due to a lack of vocational and soft skills.
So the state has earmarked 75 crore in the budget to train them. The government will invite private sector participation in establishing training centres to improve the skills.

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Posted on March 29, 2012, in Business and tagged , , , , , , , , , , , , . Bookmark the permalink. 4 Comments.

  1. I am physiotherapist.I am complete my graduation at2008. For my clinical establishment I need loan,I any possibilites available,mail me

  2. sadham hussain

    I have started garments&printing jersey company in rural area pls sent loan aply and suitable bank

  3. i would like to start a flour mill business in hosur so kindly send me the details regarding the pmegp or msme loan scheme.

  1. Pingback: Education Loan:- Subsidy, Interest free, Professional Eduction Loan « Jaggi

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