Tanstia raises concerns over revised MSME turnover criteria

CHENNAI/ COIMBATORE: Tamil Nadu Small and Tiny Industries Association (Tanstia), the umbrella organisation representing many other associations representing small industries, expressed concern about revised turnover criteria for MSMEs, saying the setting of Rs 500 crore as the limit for classification of medium scale industry can affect micro industries.

CK Mohan, president of Tanstia, said increasing the criteria will not automatically lead to meaningful growth for micro and small industries and stressed the need for a dedicated policy for micro and small industries on affordable finance, subsidies and handholding schemes.