TN govt forms expert panel to revive MSMEs hit hard by COVID pandemic

Chennai, July 28 (FN Bureau) The Tamil Nadu Government on Wednesday constituted a 12-member expert committee to formulate schemes for the revival of MSMEs hit hard by the COVID pandemic. The committee, formed in line with the announcement made in the Governor’s address to the State Assembly, has been asked to submit its report within three months, a Government Order said. The Committee will look into the challenges faced by the MSME sector in Tamil Nadu and will suggest immediate, medium term and long term measures required for the revival of the MSME sector.

The Committee will suggest measures needed to improve loan facility to MSMEs and to boost their exports. It will also look into the infrastructure, ease of doing business and manpower related issues affecting MSMEs. The Committee has also been asked to suggest measures to promote industrial growth in backward regions of the State. The Micro, Small and Medium Enterprises play a vital role in economic development apart from providing employment and export earnings. MSMEs are undergoing a very difficult period due to COVID pandemic and also due to various economic factors. In the Governor’s Address it was announced that an expert committee consisting of industrialists, banking and financial experts and Government officials will be constituted to formulate schemes for revival of MSMEs. Based on the above announcement, the Government today issued orders for constitution of the “Committee for Revival of MSMEs in Tamil Nadu headed by retired Industries Secretary Dr.N.Sunderadevan.

The committee will have Prof. M.Vijayabhaskar, Part time member, State Development Policy Council and Professor, Madras Institute of Development Studies (MIDS), Ms Bindu Anand, former Member of RBI Committees on financial inclusion, SME Finance and Securitization, N.Balasubramanium, former Chairman and Managing Director, SIDBI, Ms Hemalatha Annamalai, Cofounder and Ex-CEO Ampere Vehicles (Electric Vehicle) and Past Chair, TiE Women, Israr Ahamed, Regional Chairman, FIEO, Anburajan, President, Tamil Nadu Small and Tiny Industries Association (TANSTIA) and R.Anand, Ex partner, Ernest and Young and Chartered Accountant and former Member of RBI Committee on Asset Reconstruction Companies. The committee will have the Secretary in Charge of Finance Department, Secretary in Charge of Industries Department, Secretary in Charge of MSME Department, Industries Commissioner (Member Convener) and Chairman, State Level Bankers Committee as ex-officio members.