MSMEs welcome measures announced in the Budget to give thrust to the sector

Coimbatore MSMEs welcome Union Budget initiatives for growth and development across various industrial sectors in the district.

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.