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27 May 2018, Edition - 1048, Sunday

FLASH NEWS:

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Coimbatore

Defence park to support MSMEs in Coimbatore can be considered: Coir Board chief

Covai Post Network

Coir Board chairman and former BJP Member of Parliament CP Radhakrishnan today promised all possible help to bring a defence park here for the benefits of MSMEs in the region.In response to an appeal by representatives of the MSME sectorfor setting up a defence cluster for easy supply of components required for defence establishments, Radhakishnan said that considering the
potential of small industries in the region, the Centre will be ready even to fund for the park.

He was speaking after inaugurating a two-day national ‘VendorDevelopment Programme-cum-Medium, Small and Micro Enterprises (MSME) Expo here.
Industry representatives should seek the assistance of both the State and Central Governments, he said, adding that he was aware that the industries in the region had performed well with regard to public sector units in the last one year.

However, he cautioned that there should be no compromise on quality, which decided the fate of the industries.He added that he was willing to organise a bankers’ meeting with MSMEs to see that the Startup India scheme is implemented. Loans of small industries turning into NPAs should be given a year’s extension for repayment with 9 per cent simple interest.

The expo is jointly organised by MSME – Development Institute and Coimbatore Sidco Industrial Estate Manufacturers’ Association (COSIEMA).A total 82 MSMEs are exhibiting their facilities, as 20 major outsourcing companies, buyers and PSUs and 20 nationalised banks are participating.

Chief Workshop Manager of Southern Railways S and T Workshop R Bhaskaran said there were a lot of opportunities for MSMEs in the railways and this should be tapped effectively as of the Rs 140 crore worth of purchase contracts, Coimbatore got Rs 25 crore.The workshop’s turnover had increased from to Rs140 crore last year from Rs 65 crore the previous year. It is expected to cross Rs 300 crore in 2019.