Package Scheme of Incentives for Industries in Tamil Nadu
Package Scheme of Incentives is implemented by The Joint Director of Industries and District Industries Centre’s (DIC’s). The eligible industries such as Micro & Small Scale Enterprises or Large Scale Industry defined in the MSMED Act can get benefit of this scheme for expansion and diversification of their businesses.
Taking attention of the above factor and in order to give special advancement to MSMEs, the Tamil Nadu Government is extending the following incentives to Micro, Small and Medium Enterprises established in the State: -
1. Subsidy schemes for micro manufacturing enterprises
2. Subsidy schemes for Industrially Backward Blocks and Agro Based Enterprises
3. Special Capital Subsidy for Thrust Sector Enterprises
4. Generator Subsidy
5. Back-ended Interest Subsidy
State Incentive Scheme Policy:
This policy was adopted by the government of Tamil Nadu especially to “maximize the welfare of the people of Tamil Nadu by creating gainful employment opportunities by achieving higher and sustainable economic growth with emphasis on balanced regional development through greater private and public investment in Manufacturing and infrastructure development”.Tamil Nadu is currently ranked the Fifth largest economy among the States in India with the share of secondary sector being 27.39%. The total number of factories in the State is 26,122 and the value of industrial out 3 put was ` 3,00,801 crores during 2008-09 (Source-Annual Survey of Industries, Government of India)Further Hon’ble Chief Minister also recently announced that the State Government will bring out a policy document “Vision 2025” for Tamil Nadu. Steps will be taken towards achieving this long term goal by making the State more investors friendly and creating the infrastructure required to attract fresh investment into the state.
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