District Industries Centre disburses record ₹8.3 crore subsidy to small industries

The District Industries Centre (DIC) under the Micro, Small, and Medium Enterprises Department in Nagapattinam has disbursed a record ₹8.3 crore in subsidies to small and medium-scale industries over the past fiscal year, giving a significant boost to local entrepreneurship.

In 2023-24, the DIC extended ₹833.98 lakh in financial aid to 381 beneficiaries through five schemes. The Unemployed Youth Employment Generation Programme (UYEGP) supported 53 beneficiaries with ₹58 lakh while 19 beneficiaries under the New Entrepreneur cum Enterprise Development Scheme (NEEDS) received ₹122.27 lakh. The Prime Minister’s Employment Generation Programme (PMEGP) aided 164 beneficiaries with ₹277.17 lakh and the Pradhan Mantri Formalisation of Micro Food Processing Enterprises (PMFME) scheme benefitted 114 recipients with ₹196.18 lakh. Under the newly launched Annal Ambedkar Business Champion Scheme (AABCS), 31 beneficiaries received ₹180.36 lakh.

In the previous year, 2022-23, the DIC provided ₹475.55 lakh in financial aid to 262 beneficiaries across four schemes.

Tariq Syed, general manager of the District Industries Centre, said these programmes had helped beneficiaries secure loans and subsidies to launch or expand businesses. “We welcome proposals from young aspiring entrepreneurs under these schemes,” he added.

One of the recent beneficiaries, G. Saranya from Manjakollai, established a fitness centre with the help of the NEEDS scheme. She secured a loan of ₹11.79 lakh, including a 25% subsidy. Reflecting on her experience, Ms. Saranya said: “Thanks to the district’s entrepreneurial training and loan assistance, my husband and I now run a gym successfully with over 150 members.”

Published - September 28, 2024 07:13 pm IST