CM Stalin aims at social justice in industrial development

Chennai: Chief Minister M K Stalin underlined the need for ensuring social justice in industrial growth, too,  by informing that the special fund allocation for providing share capital to startups launched by entrepreneurs from the scheduled caste communities had been increased from Rs 30 crore last year to Rs 50 crore this year, thus setting an example for the country.

Addressing the inauguration of the Tamil Nadu Startup Festival, organized by the Startup and Innovation Mission of the State at the CODISSIA complex in Coimbatore on Saturday, through video conference from Chennai, Stalin said the startup scene in the State had become better after the DMK took office.

More than foreign investment oriented industrial development, the growth of Medium, Small and Micro Enterprises (MSMEs) was more important and it was to ensure that kind of integrated growth, the Tamil Nadu Startup and Innovation Mission, which received a leg up after the DMK came to power, had  played a major role, he said.

While the total number of startups stood at 2300 in March, 2021, it had now grown three fold to reach 6,800, he said to highlight the efforts made by his government to improve industrial development in the State as he wanted Tamil Nadu to be on top of everything in the country.

On the Startup festival, he said when the plan was given to him for organizing the event with seminars, exhibitions and offering investment opportunities, he chose Coimbatore as the venue since it had been known as the Manchester of South India and expressed happiness that it had worked out well with the setting up of an exhibition with 450 stalls, expecting 10,000 visitors.

The festival drawing entrepreneurs, business enthusiasts and students, among others will have over 50 experts addressing them in the session that would see innovation and new age industrial initiatives getting special focus with inclusive and consistent growth getting priority, he said.

Listing out the various measures taken by his government to develop industries in the State like the MentorTN guide software to help new age entrepreneurs who needed guidance, he said his government launched regional startup centres in places like Madurai, Erode and Tirunelveli in 2022-23 to ensure the spread of startup culture in all parts of the State.

Now work was in progress to start such regional startup centres in tier-2 and tier-3 cities like Salem, Hosur, Cuddalore and Thanjavur, he said.

Announcing the setting up of an integrated centre in Dubai, which was turning into a world trade centre, to enable startups to have access to global investments and marketing opportunities, he said Tamil Nadu gained Startup India’s recognition as ‘leader’ only after the DMK assumed power in the State.