The focus of Tamil Nadu Global Investors Meet 2015 might have been to bag big investments, but it is the MSMEs (Micro, Small and Medium Sized enterprises) that provide jobs for a chunk of under-privileged communities in India. Taking note of their contribution, the State government had invited entrepreneurs running MSMEs to invest more in Tamil Nadu.
“At least 62% of 5.72 crore micro, small and medium sized enterprises are owned by people belonging to SC/ST and OBCs in India. Tamil Nadu has the large number of Dalit entrepreneurs,” said Milind Kamble, chairman and founder of Dalit Indian Chamber of Commerce and Industry, in a panel discussion.
Stating that full integration of Dalits into a market-based economy could be a panacea for caste-based discrimination, he said that Dalits must take full advantage of it. “In a market economy, nobody will think about who created a product. The bottomline is that the product needs to be good – it doesn’t matter if it was made by a Kamble or Agarwal or a Jain,” he said.
However, some problems remain. “The dominant mode of financing in India requires that collateral be attached. But, many Dalits are unable to provide that collateral and hence can’t secure a loan. This has to be creatively solved,” Mr. Kamble said.
Speaking about some of the challenges faced by MSMEs in Tamil Nadu, C. Muthusami, president of TANSTIA, said that delay in reclassification of land for industrial use is a major concern.
Published - September 11, 2015 12:00 am IST
