Schemes for labour-intensive sectors expected to give opportunities to MSMEs to diversity.
| Photo Credit: file photo
Majority of the Micro, Small and Medium-scale Enterprises (MSMEs) across industrial verticals in Coimbatore district have welcomed the announcements in the Union Budget.
G. Radhakrishnan, chairman of the CII, Coimbatore Zone, said the Budget plans to develop tier-two cities such as Coimbatore with multiple initiatives and schemes for labour-intensive sectors will give opportunities to MSMEs to diversity.
According to M. Karthikeyan, president of the Coimbatore District Small Industries Association, there were several announcements for the MSMEs that will give a thrust to the sector.
The Southern India Engineering Manufacturers Association (SIEMA) president Mithun Ramdas said extension of the Jal Jeevan Mission till 2028 to cover 140 crore households will benefit the Coimbatore pump industries since pumpset is the main product used for this project. However, the budget did not address the need to increase the working capital limit for MSMEs.
KV Karthik, president of the Indian Pump Manufacturers Association, said the Budget has focused on agriculture and it will spur demand for pumps.
President of the Indian Chamber of Commerce and Industry, Coimbatore, Rajesh Lund, said the budget aimed at job creation and was balanced and progressive with its proposals.
According to Sudhir Jha, convenor of the All India Manufacturers Organisation, the micro and smaller industries should be supported for a smooth transition to reach the larger milestones and all the micro and small units should be able to benefit from the government schemes.
B. Sabarinath, president of the Coimbatore Jewellers Association, said the Budget did not address the demand of the jewellery sector to reduce the Customs Duty on gold.
The Tamil Nadu Association of Cottage and Tiny Enterprises president J. James said the Budget failed to address the demands of the micro units and does not have a specific allocation for the cottage industries.
C. Sivakumar, president of the Coimbatore Tiruppur District Micro and Cottage Entrepreneurs Association, said the budget had several announcements for the MSMEs. The government should look at promoting a large-scale industry in Coimbatore.
The Coimbatore Compressor Industries Association president M. Raveendran said 95 % of the micro units in the country had a turnover of less than ₹1 crore a year. So, there should be a separate classification for these units.
R. Kalyanasundaram, president of the Tamilnadu Pumps and Spares Manufacturers Association, said the budget announcements will benefit the common man and the MSMEs. The Kovai Power Driven Pumps and Spares Manufacturers Association president K. Maniraj there were no measures to control the increasing prices of raw materials for pumps.
According to Palat Vijayaraghavan, founder and CEO, Lawrencedale Agro Processing India, the budget announcements represent a series of pivotal steps in reinforcing the agricultural sector, addressing both immediate needs and long-term goals. These initiatives reflect a strategic approach to improving productivity, fostering sustainability, and enhancing resilience within the sector.
G. Karthikeyan , president of the Start up Academy, said the budget addressed key economic challenges while fostering growth across various sectors. The government’s focus on fiscal discipline by containing fiscal deficit of 4.8% of GDP, coupled with a projected growth rate between 6.3% and 6.8%, reflects a pragmatic approach to economic stability and expansion.
Published – February 01, 2025 10:55 pm IST