Tamil Nadu interim budget: Coimbatore industries welcome FM’s announcement about first phase of work on gold jewellery park | Coimbatore News – The Times of India

COIMBATORE: Industrial bodies in the district have welcomed finance minister Thangam Thennarasu’s announcement in the state’s interim budget on Tuesday that the first phase of work for a Gold Jewellery Park in Coimbatore district is being undertaken at an estimated cost of ₹81 crore.CODISSIA president M Karthikeyan appreciated the proposal to establish a ‘Fund of Funds’ and allocation of ₹1,943 crore for MSMEs, aimed at promoting entrepreneurship and supporting industrial expansion.He also welcomed the state govt’s decision to urge the Union govt to reconsider and grant early approval for metro rail projects in Coimbatore and Madurai.He further lauded the launch of the TN TReDS (Tamil Nadu Trade Receivables Discounting System) platform to ensure timely and hassle-free payments to MSMEs. The digital platform will enable micro and small enterprises to access working capital by discounting their trade receivables, thereby improving liquidity in the sector.The Coimbatore Chinnavedampatti Industrial Association (CIA) has urged the state govt to provide stronger financial backing for MSMEs.In a statement, CIA president N Devakumar appreciated the establishment of skill development centres in govt engineering colleges in Coimbatore, Salem and Tirunelveli, and the allocation of ₹374 crore for the development of riverbanks, including the Noyyal.However, the association sought additional measures such as raw material price regulation, enhanced working capital support and special incentive schemes for industrial growth in the forthcoming full budget.President of the Tirupur Exporters’ Association (TEA) K M Subramanian welcomed the announcement of steps being taken to establish an advanced quality testing laboratory at an estimated cost of 6 crore at the South India Textile Research Association (SITRA), Coimbatore. This facility will promote high-quality production of sports textiles by enabling advanced testing and quality certification of fabrics, thereby enhancing export competitiveness.Welcoming the interim budget, chairman of the Apparel Export Promotion Council (AEPC) Dr A Sakthivel said more than 13,000 startups are currently operating in the state and continue to receive structured financial support, including seed funding. Highlighting the efforts being taken to strengthen the export ecosystem in Coimbatore, he welcomed the announcement of a new Shipbuilding Policy aimed at promoting marine manufacturing. SIPCOT, along with the V O Chidambaranar Port Authority, is set to develop a shipbuilding cluster in Tuticorin, which is expected to open new industrial opportunities.