The Department of Micro, Small, ad Medium-scale Enterprises, Tamil Nadu, has extended benefits under the Thrust Scheme to manufacturers of sustainable products.
The government said in a recent notification that the scheme extended 25% or maximum ₹1.5 crore capital subsidy to eligible MSMEs.
The units should have Udyan registration and should manufacture any of the 26 products identified for the thrust sector. Industries that take up substantial expansion or diversion activities to these sectors are also eligible. A list of sustainable products, including recycled polyester fabrics and garments, natural fibre rugs and carpets, biodegradable packing materials, building materials made from recycled products, and wooden toys, is now included under the scheme.
An official of the District Industries Centre (DIC) in Coimbatore said that micro industries get capital subsidy and 10% additional subsidy. Small enterprises should be located in backward areas such as Sulur, Sultanpet, and Kinathukadavu. However, under the thrust sector scheme, MSMEs located in any area will get capital subsidy. In Coimbatore district, MSMEs that manufacture automobile components and plastic products avail of the benefits, he said.
The South India Hosiery Manufacturers Association (SIHMA) and the Southern India Mills Association (SIMA) have welcomed this and said that it will benefit garment and textile manufacturers who use sustainable raw materials.
The scheme is expected to encourage investments in the garment and technical textile sectors.
The pumpset manufacturers in Coimbatore have urged the government to include pumpsets in this list.
Published – December 14, 2024 06:54 pm IST
