Team, Namaste
LUB Salem District along with SIDBI, Salem Branch conducted an awareness program on MSME schemes at Elampillai, Salem District yesterday.
Elampillai is a power loom cluster with focus on sarees manufacturing. More than 1 Lakh looms are in operation within a radius of 20 Km. It was informed that more than 2000 Crores per Annum of business is done in this cluster.
LUB team visited the retail sales unit of Srinivasa Textiles, which also sells Surat & Aruppukottai Sarees apart from Elampillai Sarees. The team also visited their power loom unit at Elampillai to understand the activities of the cluster.
The awareness program started with invocation prayer.
N Senthil Kumar, District President, LUB delivered the welcome address.
Our LUB Member Srinivasan Ji, Srinivasa Textiles, Elampillai and Raja Ji, KSR Enterprises honoured the guests with shawls.
M S Vijayaraghavan Ji, National Executive Committee Member, LUB delivered the introduction address. He briefed on LUB activities across India and the purpose of joining LUB.
After the introduction of LUB, Mohanasundaram Ji initiated a open discussion and 3 participants spoke on the various issues / challenges faced by the power loom business and the cluster such as inverted GST structure, technology adoption and marketing of sarees for export markets.
Mr.Rajiv, AGM, SIDBI, Salem Branch gave an introduction address on SIDBI and it's digital mission of faster processing of loans. Followed with Mr.Nandalala, Manager, SIDBI gave a power point presentation on various loan schemes of SIDBI and their credit appraisal process.
Within a period of 1 year of SIDBI, Salem Branch opening , it had given total loans of 40 Crores and out of which 13 Crores exclusively for the power loom sector.
Mohanasundaram Ji, National Joint General Secretary, LUB gave concluding address. He stressed on the need for technology upgradation of power loom units to produce competitively and looking at export of their products. He also stressed on the need to improve competitiveness in a global market economy and shared the success story of Surat in manufacturing textile products.
He asked the units to register in GeM and ONDC portals to reach more customers and better price for the products.
He stressed on the need for 43B(h) of Income Tax implementation to safeguard the interests of Micro & Small Enterprises (MSE).
The program concluded with Vote of Thanks by Gopi, District Secretary, LUB Salem and followed with National Anthem.
28 power loom unit entrepreneurs had attended the program. It was informed that more than 250 active MSE entrepreneurs are in the power loom cluster.
We will have follow-up meetings in the coming weeks to start a LUB unit at Elampillai, Salem District.
Thanks.????????
