Be entrepreneurs, become job creators: TM Anbarasan tells youth

CHENNAI: The youth in the state should no longer be job seekers, but strive to become job providers, said Micro Small and Medium Enterprises (MSMEs) Minister TM Anbarasan. He was addressing the gathering while launching StartupTN Brand Labs and StartupTN Launchpad, two initiatives by the Tamil Nadu Startup and Innovation Mission (TANSIM) here on Tuesday.

“The state government has launched several initiatives to transform youngsters into entrepreneurs; they should make use of it,” said the Minister.

Detailing several initiatives taken by the government, he said, “To promote entrepreneurship among the economically weaker sections of the society, the state government offers collateral-free credit facility and Tamil Nadu is the only state to offer 90 per cent guarantee for bank loans for the benefit of entrepreneurs.”

Through the three employment generation schemes, New Entrepreneur cum Enterprise Development Scheme (NEEDS), Unemployed Youth Employment Generation Program (UYEGP) and Prime Minister Employment Generation Programme (PMEGP), subsidised bank loan to the tune of Rs 1,101 crore with a subsidy of Rs 275.35 crore has already been disbursed, Anbarasan added.

To assist industrialists and entrepreneurs, 127 SIPCOT industrial estates have been established that collectively have 9,938 units that are functioning providing employment to 1.62 lakh people. Earlier, 1,341 industrial plots in 122 industrial estates could not be sold because of high prices. But now, after the rates were brought down by 5 to 75 per cent, 553 plots have been sold in the last three months, he said.

Meanwhile, explaining how the two new initiatives would help entrepreneurs, Sivarajah Ramanathan, TANSIM director and CEO of StartUpTN, said Brand Labs would promote 10 deserving brands every month to have better visibility while Launchpad would help startups launch their products more effectively.

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