Question

Name some industrial development agencies and explain them.

Answer 1

The following are some agencies that have played a key role in industrialization in the state.

1. SIPCOT: (State Industries Promotion Corporation of Tamil Nadu), 1971 It was formed in the year 1971 to promote industrial growth in the state by setting up industrial estates.
2. TANSIDCO: (Tamil Nadu Small Industries Development Corporation), 1970
3. TANSIDCO is a state-agency of the state of TN established in the year 1970 to promote small- scale industries in the state. It gives subsidies and provide technical assistance for new firms in the small scale sector.
4. TIDCO (Tamil Nadu Industrial Development Corporation), 1965:
   TIDCO is another government agency to promote industries in the state and to establish industrial estates.
5. TIIC (Tamil Nadu Industrial Investment Corporation Ltd.), 1949:
   TIIC is intended to provide low-cost financial support for both setting up new units and also for expansion of existing units. Though it is meant to meet the requirements of all types of firms, 90% of support goes to micro, small and medium enterprises.
6. TANSI (Tamil Nadu Small Industries Corporation Ltd.), 1965:
   TANSI was formed in 1965 to take over the small scale-units that were set up and run by the Department of Industries and Commerce. It is supposed to be the first industrial corporation operating in the domain for small enterprises.