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Amma overtakes Gujarat over investments

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Tamil Nadu Chief Minister J jayalalithaa and Tamil Nadu Finance Minister O Panneerselvam at Tamil Nadu Secretariat (File)

Tamil Nadu attracted highest investment proposals in 2013-14….reports Asian Lite News

Tamil Nadu Chief Minister J jayalalithaa and Tamil Nadu Finance Minister O Panneerselvam at Tamil Nadu Secretariat (File)
Tamil Nadu Chief Minister J jayalalithaa and Tamil Nadu Finance Minister O Panneerselvam at Tamil Nadu Secretariat (File)

Tamil Nadu led the country in terms of number of investment proposals from the micro, small and medium enterprises (MSME) for the financial year 2013-14, the Associated Chambers of Commerce and Industry of India (Assocham) has said.

In a statement issued here on Thursday, the industry lobby body said Tamil Nadu garnered the highest share — over 32 percent in the total number of investment proposals from the MSME sector across the country for the 2013-14 fiscal.

“Gujarat (16.2 percent), Uttar Pradesh (12.5 percent), Karnataka (7.2 percent) and Maharashtra (5.5 percent) were among top five states in terms of state-wise distribution of entrepreneur memorandum (part-II) filed by the MSME sector in India,” Assocham said, citing its study ‘States Emergence: A comparative analysis of growth & development’.

In terms of simple growth, the MSMEs entrepreneur memorandum received by Tamil Nadu grew by 178.5 percent from about 41,800 in 2009-10 to over 1,16,390 in 2013-14, noted the study prepared by the Assocham Economic Research Bureau.

“MSME sector is the ‘engine of growth’ for developing economies, as such there is a need to lay special thrust on this sector as it serves multiple objectives of employment generation, regional dispersal of industries and as a seedbed for entrepreneurship,” D.S. Rawat, national secretary general of Assocham was quoted as saying in the statement.

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