TN govt to create venture fund for entrepreneurs

- Advertisement -
- Advertisement -

The Tamil Nadu government is planning to create a venture capital fund with the support of private industries and foreign investors for the Entrepreneurship Development Institute (EDI) in the state.

O Panneerselvam, the state finance minister, who presented the interim budget last week, said that the EDI will also create a corpus fund by pooling resources from financial institutions, and the state and Central governments.

Speaking about sectoral development in the state, Panneerselvam said the state had set a target of developing 50 clusters in the 11th Five Year Plan. The state’s Small Industries Development Corporation Ltd (Sidco) has identified 2,256 acres in 25 locations to promote industrial clusters for micro, small and medium enterprises (MSME) in the coming years.

- Advertisement -

Besides, the government has also set aside Rs 100 crore for micro and small units in the jute industry. The number of MSMEs in Tamil Nadu is the largest among all states in the country, accounting for 15.07 per cent of the national total.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Exclusive

Agriculture drone spraying water fertiliser on the sunflower field

Rising Drone Startups Giving Rise To Balanced Drone Ecosystem, India

0
Ban on drone imports, restrictions on foreign operators, alongside simplified permission processes and relaxed rules for domestic drones drive the Indian drone market.  The Indian...

ICE To EV Transition Likely Boosts Auto Sector Jobs

0
A report by the International Forum for Environment Sustainability and Technology predicts that India's total vehicle production will double by FY31 and triple by...

Element14 Offers Traco Power Product Line Featuring TMPW Series

0
Electronics and industrial design engineers can use these ultra-compact AC/DC power supplies, which come in PCB and chassis mount configurations, for their critical building...

Buzz

Revfin And Maharashtra Govt Aim To Finance 2M EVs Under PM Solar2EV Initiative

0
The Solar2EV Project, a joint initiative by India's Ministry of Social Justice & Empowerment and the Maharashtra Government, aims to make sustainable energy and...

Star Labelling Scheme For Solar Panels To Boost Customer Awareness

0
The star labelling scheme will empower customers to choose the right  solar panels. Policies will be introduced for 100% Indian-made panels. Less efficient...
MG

MG Motor India Proposes New EV MPV And SUV Under Rs 15 Lakh

0
The new MG electric MPV is expected to be launched within a year, potentially by the end of 2024, and no later than March...

Important Sectors

Revfin And Maharashtra Govt Aim To Finance 2M EVs Under PM Solar2EV Initiative

0
The Solar2EV Project, a joint initiative by India's Ministry of Social Justice & Empowerment and the Maharashtra Government, aims to make sustainable energy and...

Star Labelling Scheme For Solar Panels To Boost Customer Awareness

0
The star labelling scheme will empower customers to choose the right  solar panels. Policies will be introduced for 100% Indian-made panels. Less efficient...
MG

MG Motor India Proposes New EV MPV And SUV Under Rs 15 Lakh

0
The new MG electric MPV is expected to be launched within a year, potentially by the end of 2024, and no later than March...

EKPO Secures FAW Group’s Fuel Cell Stack Order

0
The contract entails the initial delivery of 'NM12 Single' stack modules for integration into Hongqi's next-generation fuel cell system, a premium brand of China's...

Delhi Solar Energy Policy Introduces Hybrid RESCO Model In India

0
The policy offers Generation Based Incentives (GBI) for five years to domestic, commercial, and industrial consumers.  The Delhi government has launched the Delhi Solar Energy...

Manufacturing

Altmin India Partners With WMG To Advance Battery Tech

0
Altmin and WMG will collaborate to strengthen their global battery materials supply chain position by optimizing cathode materials and developing diverse cell designs across...

EVs To Cost Less Than Gas Vehicles by 2027, Says Gartner

0
Gartner predicts a faster decline in production costs compared to battery costs, which represent the most significant expense in an electric vehicle, accounting for...
MG

MG Motor To Set Up Battery Assembly Unit At Halol Facility

0
The company plans to investigate battery cell production in collaboration with external partners. Automaker MG Motor India is actively exploring the possibility of assembling and...

Servotech Boosts India’s EV Charging Infrastructure With Manufacturing Facility

0
The new facility is poised to start with an annual production capacity of 24,000 power modules and plan to scale up to 2.4 lakh...

Uno Minda Prepares For Expected Surge In Aftermarket Parts Demand

0
Rakesh Kher, CEO of Uno Minda's Aftermarket Division, notes that the availability of EV replacement parts in the aftermarket will not be immediate. Uno Minda,...