Coimbatore district outshines others in the execution of the New Entrepreneur cum Enterprise Development Scheme
The Coimbatore district has emerged as a frontrunner in implementing the New Entrepreneur cum Enterprise Development Scheme (NEEDS) set forth by the State government. The district’s success is evident from the number of projects that have received subsidies, far exceeding the initial target.
A Remarkable Achievement
An official from the District Industries Centre (DIC) stated that approximately 80 projects in Coimbatore had obtained subsidies under the NEEDS scheme, surpassing the goal of 24 projects. The scheme has been in place in the district for almost a decade, proving beneficial to entrepreneurs and new enterprises.
The official also noted that four Scheduled Caste candidates had received support under the NEEDS scheme in the Coimbatore district in the past. In the 2022-2023 period, 11 Scheduled Caste candidates were granted subsidies, with nine of them already commencing production.
Out of the 11 beneficiaries, five candidates are from other districts. They have initiated businesses in various sectors, including CNC and auto components, showcasing the diversity of enterprises supported by the scheme.
Exceeding Targets in Other Programs
The Coimbatore district has not only excelled in the implementation of the NEEDS scheme but also surpassed targets for other initiatives such as the Unemployed Youth Employment Generation Programme and the Prime Minister Employment Generation Programme (PMEGP).
The DIC official revealed that they had provided ₹ 10 crores as a margin money subsidy under the PMEGP, demonstrating the district’s commitment to fostering entrepreneurship and creating employment opportunities.
A Promising Future for Coimbatore
The exceptional performance of Coimbatore in implementing NEEDS and other schemes highlights the district’s potential for economic growth and job creation. The State government’s continued support for such programs will likely further enhance the district’s entrepreneurial ecosystem and contribute to its overall development.