Boosting MSMEs: Tamil Nadu Allocates INR 5.94 Crore to Expand Global Market Access

T.M. Anbarasan, Minister for MSME and Rural Industries, recently opened a large international buyer-seller meeting, which highlighted Tamil Nadu's Micro, Small, and Medium Enterprises (MSME) sector. On Thursday, the district hosted an event that brought together 28 buyers from 14 countries, including Germany, Japan, the United States, Malaysia, and Egypt, as well as over 250 local MSMEs, to showcase Tamil Nadu's burgeoning industrial footprint.

Anbarasan underlined the event's relevance, stating that such seminars will be held biannually throughout the state to assist MSMEs in accessing international markets, hence enhancing their growth and profitability. “Buyer-seller meetings create crucial market opportunities for MSMEs, enabling them to tap into the global marketplace, which offers higher profit margins compared to domestic sales,” the minister remarked. To further bolster MSME support, Tamil Nadu’s government allocated INR 5.94 crore specifically for organising these events throughout the state.

The initiative shows Tamil Nadu's ambitious progress towards industrial significance. The state's first buyer-seller meeting, held in January at the Global Investors Conference, resulted in agreements worth INR 42 crore from 174 MSMEs, with 73 first-time exporters spending INR 16 crore. "Our government has prioritised financial support for MSMEs, investing INR 5 crore over the past two years to facilitate participation in both domestic and international exhibitions," said Anbarasan, noting Tamil Nadu's 9.25% contribution to India’s total exports, a figure that has seen consistent growth under the state's new leadership.

The meeting also highlighted Tamil Nadu's emphasis on high-growth industries such as electric vehicles, aircraft, pharmaceuticals, and petrochemicals, with plans underway to construct export advisory centres in Coimbatore, Hosur, Tirupur, and seven other sites. Furthermore, the Global Investors Meet in January resulted in MoUs with 5,068 enterprises, promising investments totalling INR 65,573 crore and creating an estimated 2.5 lakh jobs across Tamil Nadu's MSME sector.

Tamil Nadu's ongoing commitment to industry and global outreach is opening the road for MSMEs to prosper in the international market, resulting in unparalleled economic growth and employment creation.