Narayanasamy assures action on MSME grievances

Coimbatore: Union Minister of State in the PMO V Narayanaswamy Monday assured the micro, small and medium entrepreneurs (MSME) here that he would look into their problems particularly bank-related and raw material issues with the concerned ministries.

Responding to the requests made by Coimbatore District Small Industries Association (CODISSIA) during an interactioin here tonight, Narayanaswamy asked the industries to send their recommendations to tide over the labour shortage, reportedly after the implementation of Mahatma Gandhi National Rural Employment Guarantee Act.

CODISSIA President Kandhasamy wanted the scheme to be enforced only in non-industrial and agricultural areas and not in industrial areas like Coimbatore. Narayanasamy said that the main aim of the scheme was to provide 100 days labour to the poor, backward and tribals.

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On raw material, Narayanaswamy said he would take it up with the concerned ministry and with Steel Authority of India Ltd for maintaining a minimum stock of structural steel and sheet metal items so that industrialists do not have to go to open market for procurement.

Narayanaswamy also promised to take up various bank related issues such as extending term loan at five per cent interest subsidy as was being provided to textile sector with Finance Minister Pranab Mukherjee.

PTI