Recognizing MSMEs as the second-largest employment generators after agriculture, the State government has ramped up efforts to expedite payments owed to these businesses, Chief Minister M.K. Stalin said while inaugurating ACMEE ’25, a five-day machine tools exhibition organised by the Ambattur Industrial Estate Manufacturers Association (AIEMA).
To streamline operations and accelerate the disbursal of dues, the Chennai and Madurai Facilitation Groups have been split, while two new groups have been established in Vellore and Thoothukudi. This restructuring has led to the clearance of outstanding dues amounting to Rs 127.3 crore for 794 MSMEs.
Additionally, a Tamil Nadu-specific credit guarantee scheme launched in 2022 has facilitated loans worth Rs 7,578.53 crore to 42,278 MSMEs, significantly improving access to credit for small businesses across the state, he pointed out.
Underscoring the sector’s crucial role in Tamil Nadu’s economy, the government has provided a budgetary allocation of Rs 1,918.22 crore for MSME development in the current financial year.
The Chief Minister also responded to a proposal made by the Federation’s president, assuring that it would be given due consideration. The request called for the creation of an industrial hub within 50 km of the Ambattur Industrial Estate to support growing business needs in the region.
