FaMe TN, an autonomous agency of theTamil Nadugovernment, has entered into MoUs with 100 MSME companies to attract investments up to 1,510 crore.
These units are to be established in multiple sectors including automobile, aerospace, DEFENCE, electric vehicles (EV), pharma and textile across the state and are expected to generate EMPLOYMENT opportunities for around 7,400 people.
The MoUs were exchanged in the presence of chief minister M K Stalin on Tuesday to mark International MSMEs Day. FaMe TN also signed one with to facilitate loans for MSMEs.
Stalin said, Annal Ambedkar Business Champions Scheme offers 35% capital subsidy on the project cost including land, plant, machinery, testing equipment and computing devices, besides 6% interest subvention for loans offered for up to 10 years. No state has such a high subsidy scheme for beneficiaries belonging to SC/ST communities. Sanction orders for 127 entrepreneurs covering a loan of 45 crore have been obtained in a short span of three months since the scheme was announced, he said. Stalin gave away the sanction orders for 100 beneficiaries on the occasion.