more-in The day-long MSME (micro, small and medium enterprises) summit brought up by the Confederation of Indian Industry (CII) Salem district provided a learning platform for new business opportunities, and also on creating awareness on the various government schemes that supported the MSME sector. This is the second MSME summit organised by the CII Salem district. D. Ravichandar, Chief Executive Officer, JSW Steels Limited, in his inaugural address said that MSME sector has gained a lot of importance and played a major role in creating job opportunities across the country. In Tamil Nadu alone, more than 80 lakh people are employed in the MSME sector, he said adding that the MSME industries created three lakh jobs every year in the State. He said that the new amendment introduced by the Centre on classifying industries based on turnover was a major achievement and it would bring a lot of welcome changes on the industrial front. Mr. Ravichandar said that the service industry in India is growing fast and it is grabbing the cream of technical hands from manufacturing industry, as they don’t get employed in core areas. C.R. Gopi Krishnan, Deputy General Manager, Indian Bank, in his special address said that Salem enjoyed a major advantage registering very low non-performing assets record. The NPA reported in Salem district was only between 3 and 5 per cent, which is much low compared to the national average. The credit-deposit ratio (CD ratio) is more than 100 per cent in Salem and Dharmapuri districts. This only showed the prompt repayment tendency among the loan borrowers and entrepreneurs of these districts, he said. S.S. Yuvaraj, chairman, CII Salem district, said that MSME sector accounted for 36 million units across the country and contributed heavily to the country’s GDP. K.P. Gopal, convener, CII Tamil Nadu State MSME Panel, presented the theme address and context setting. P.P. Narayanan, president and head, MSME and transaction banking, Lakshmi Vilas Bank, also spoke at the inaugural.

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