Coimbatore: Since the DMK assumed power, Tamil Nadu's Micro, Small, and Medium Enterprises (MSME) Department has facilitated Rs 2,993 crore in bank loans, supported 33,464 new youth entrepreneurs, and generated significant employment opportunities, according to MSME Minister Anbarasan.

A buyer-seller meet held at the Codissia Complex in Coimbatore brought together 28 buyers from 15 countries and 231 MSME companies. At the event, 43 MSMEs signed agreements with foreign firms valued at Rs 115 crore.

Minister Anbarasan shared details with reporters, highlighting recent MSME initiatives, including five self-employment schemes supported by a government grant of Rs 1,104 crore.

These schemes have boosted entrepreneurship, with many young people stepping into the MSME sector.

The MSME department is also overseeing the development of industrial apartment complexes for micro-enterprises, with a project cost of Rs 208 crore across locations such as Salem, Sathyamangalam, Krishnagiri, Hosur, Madurai, and Kurichi in Coimbatore.

Additionally, a hostel for migrant workers, accommodating 810 individuals, is under construction in Ambattur at a cost of Rs 24.4 crore. Another hostel in Kurichi, Coimbatore, for 510 workers is being developed with a budget of Rs 22 crore.

In an effort to boost Tamil Nadu's coir industry, the Tamil Nadu Coir Business Development Corporation has been established. The northern coconut industry in the state has an annual turnover of Rs 5,361 crore, including Rs 2,156 crore in exports. Furthermore, quality-testing laboratories are being developed to support coir product standards.

On the energy front, peak-hour electricity tariffs for MSMEs have been reduced from 25% to 15%, and network charges have seen a 50% reduction. The state government allocated Rs 330 crore last year and Rs 351 crore this year to support these adjustments.

Additional attendees included MSME Department Secretary Archana Patnaik, Industries Additional Commissioner Soundara Valli, Joint Commissioner Nirmalraj, and Collector Krantikumar.