Tiruchi District Tiny and Small Scale Industries Association (TIDITSSIA) has urged the State government to take prompt measures for timely fructification of the Defence Industrial Corridor project.

The Defence Industrial Corridor for which Tiruchi is one of the five nodes will pave way for engineering industries in the region with underutilised capacities to extricate themselves from the current state of sickness, the association has emphasised.

Most industries dependent on BHEL are facing a tough situation ever since the country started focusing more on renewable energy over thermal power generation. The State government must hence take effective measures to enable the industries in the region to tweak their machinery to the requirements of thevdefence industrial corridor, a memorandum submitted by P. Rajappa, president of TIDITSSIA, to Finance Minister P.T.R. Palanivel Thiagarajan said.

The government must intervene to set right the problems faced by small and medium industries due to escalation in input costs, and most of the nearly 2,000 industrial units that are not functional must be enabled to align their capacities for manufacture of components for railway wagon and heavy vehicles as well, Mr. Rajappa said.

The six per cent interest subvention of Tamil Nadu Industrial Investment Corporation (TIIC) must be further popularised for better reach among prospective beneficiaries. TIIC has to continue to play a pivotal role for start of new ventures and expansion of existing ones by scaling up the extent of low-interest loans forwarded through Tamil Nadu Industrial Cooperative Bank

The interest subvention and low rate of interest has been the reason why industries have been able to face competitions at global level. Also, the ambit of utility of NEEDS (New Entrepreneur cum Enterprise Development Scheme) has to be expanded, Mr. Rajappa emphasised.

Plots must be made available at the five SIDCO industrial estates at Ariyamangalam, Tiruverumbur, Thuvakudi, Vazhavanthankottai, Kumbakudi, at reduced rates. There is also a need for start of a dedicated freight service from Tiruchi airport to foreign destinations, the memorandum said.

Source : The Hindu