“While the entire world is reeling under recession, this city is demanding attention. This is encouraging,” said the MSME Secretary, Mr R K Mathur, speaking at the 13th edition of INTEC 2012 Fair, which began in Codissia Trade Fair Grounds today.
The expo was off to a solid start with around 500 exhibitors, including foreign participants from Japan, China, Singapore, US, Germany, Switzerland, Taiwan, Dubai, Luxemburg, Spain, South Korea, Denmark, Rwanda, the UK and Kuwait showcasing their products.
The special focus of INTEC is on industrial automation, material handling and energy efficient systems and for the first time in many years, the (space) booking is said to have crossed 9,500 sq metre mark.
Turnover
The business turnover is estimated at around Rs 600 crore.
The trade fair ground was a scene of hectic activity, with business visitors taking detailed look at the various exhibits.
“While Tamil Nadu had the largest share of MSMEs, the entrepreneurial acumen in Coimbatore took the city to a much higher pedestal,” said Mr Mathur, in his presidential address.
He pointed out that there were as many as 10 clusters in Coimbatore alone such as wet grinder manufacturing, jewellery making, foundries, pumps, micro electronics and so on, making the city stand out from the rest.
“What the city needs at present is infusion of many things such as better infrastructural facilities, better marketing, improved technology and funds for support,” he said and urged entrepreneurs to look at green technology initiatives to improve their market share.
“To help the SMEs gain access to equity capital, a proposal for setting up an SME exchange has been mooted,” he said. "Later briefing presspersons, he said the Ministry had decided on setting up of the SME exchange and the proposal was with SEBI.
“The regulator has also decided that the National Stock Exchange and the Bombay Stock Exchange (NSE and BSE) will set up the SME exchange.
The basic homework has been done,” he added.
A BSE survey showed that around 5,000 companies were ready to avail themselves of equity and be listed on the exchange.
“Hope the exchange proposition will become a reality soon,” said Mr Mathur.