TN MSMEs Hit 49.48 Lakh Units, Govt Allocates Rs 1500 Crore for Expansion

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Tamil Nadu has long been recognised as a hub for Micro, Small, and Medium Enterprises (MSMEs), due to its conducive ecosystem shaped by state initiatives. According to M Ponnuswami, Co-chairman of the CII National MSME Council and Chairman of the Committee on MSME and Ease of Doing Business, CII (South), the state has created an environment that fosters growth for MSMEs by simplifying processes and reducing regulatory burdens. As of March 31, 2023, Tamil Nadu is home to 49.48 lakh registered MSMEs, accounting for 8 per cent of the national total. The state is particularly supportive of women entrepreneurs, with 12.85 lakh MSMEs owned by women, ranking second in the country in this category. The government has increased its budget allocation for MSMEs by fivefold this year, to Rs 1,500 crore, a significant boost aimed at fostering growth in this vital sector. Tamil Nadu’s government initiatives include a single-window clearance system integrated with the national portal and FaMe TN for accessing government schemes. Read more