Ministry proposes business incubator in Puducherry

PUDUCHERRY: Union minister for micro, small and medium enterprises Giriraj Singh said the ministry has proposed to set up a livelihood business incubator (LBI) centre in Puducherry.
Speaking at the manufacturing and SMEs summit organized by the Confederation of Indian Industry (CII) in Puducherry on Friday, Singh said the centre will train the youth on developing their skills and mould them with potential to launch business ventures.He said the Union government, which had sanctioned a technology tool centre for micro, small and medium enterprises, will establish the centre at the earliest.
He said Puducherry has tremendous potential and the administration must form cluster units in the government sector. He said banks have been given clear instructions to extend necessary loans to the industrial sector. “Money is not a constraint at all,” he said.
Chief minister V Narayanasamy appealed to Singh to urge Union home ministry to accord permission for the Puducherry government to transfer over 800-acres of land acquired for the special economic zone project to Pipdic to use the land for other projects.
He said the government has come forward to extend all necessary assistance to the industrial sector. He said Ramanujam IT City (a joint venture by Tata realty and infrastructure limited, Indian hotels company limited and Tamil Nadu industrial development corporation) has come forward to establish an information technology park in Puducherry. Similarly, Avadi Industrial association has also expressed their willingness to establish an industrial estate here if the government provides adequate land for the project.
Revenue minister M O H F Shahjahan said the government has proposed to launch floating casinos to promote tourism in the territory.