Chennai floods left 50,000 jobless in MSME sector

Chennai floods left 50,000 jobless in MSME sector

Recent floods in Chennai and nearby areas early this month have left 50,000 people unemployed in the micro, small and medium enterprises industry in the city. The Minister stated that “Chennai is the MSME hub. About 10,000 micro units have suffered losses, of which 95 per cent are service enterprises. The loss in terms of employment is to the tune of 50,000 in the micro enterprises alone.” Tamil Nadu Small and Tiny Industries Association officials requested the government to waiver of loans up to 5 lakhs and also sought one year waiver of excise duty and service tax.

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