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    Amita Kohli

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    kohliamita4568022
    SIPCOT was established in 1971 by the Government of Tamil Nadu to promote and develop medium and major private industries in the state. It aims to spur industrialization in backward areas. SIPCOT offers financial assistance, incentives, developed land, and ancillary services to entrepreneurs. It identifies viable projects, prepares profiles, and provides guidance to entrepreneurs on setting up industries. SIPCOT also helps entrepreneurs with business development support like obtaining licenses, clearances, and commitments needed for project implementation.

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    Amita Kohli

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    kohliamita4568022
    221 views8 pages
    SIPCOT was established in 1971 by the Government of Tamil Nadu to promote and develop medium and major private industries in the state. It aims to spur industrialization in backward areas. SIPCOT offers financial assistance, incentives, developed land, and ancillary services to entrepreneurs. It identifies viable projects, prepares profiles, and provides guidance to entrepreneurs on setting up industries. SIPCOT also helps entrepreneurs with business development support like obtaining licenses, clearances, and commitments needed for project implementation.

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    SIPCOT was established in 1971 by the Government of Tamil Nadu to promote and develop medium and major private industries in the state. It aims to spur industrialization in backward areas. SIPCOT offers financial assistance, incentives, developed land, and ancillary services to entrepreneurs. It identifies viable projects, prepares profiles, and provides guidance to entrepreneurs on setting up industries. SIPCOT also helps entrepreneurs with business development support like obtaining licenses, clearances, and commitments needed for project implementation.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    221 views8 pages

    Amita Kohli

    Uploaded by

    kohliamita4568022
    SIPCOT was established in 1971 by the Government of Tamil Nadu to promote and develop medium and major private industries in the state. It aims to spur industrialization in backward areas. SIPCOT offers financial assistance, incentives, developed land, and ancillary services to entrepreneurs. It identifies viable projects, prepares profiles, and provides guidance to entrepreneurs on setting up industries. SIPCOT also helps entrepreneurs with business development support like obtaining licenses, clearances, and commitments needed for project implementation.

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    (SIPCOT)
    INTRODUCTION

    ƥ SIPCOT was set up in 1971 as a public limited company wholly


    owned by the Government of Tamilnadu, with the specific objective
    of playing a role in the promotion & development of medium &
    major industries in the private sector & to hasten the industrial
    dispersal in backward & under developed areas of the state.

    ƥ The corporation commenced its activity in Jan 1972 with a


    comprehensive promotional programme designed to stimulate
    entrepreneurship.
    PROMOTIONAL ACTIVITIES OF SIPCOT

    ƥ Provision of financial assistance on liberal terms to


    medium & major industries.

    ƥ Implementation of a package scheme of incentive for the


    benefit of entrepreneurs.

    ƥ Development of potential growth centres & provision of


    developed lands at reasonable cost on easy payment
    terms.

    ƥ Provision of various ancillary services for the


    entrepreneurs.
    SIPCOTƞS FINANCIAL ASSISTANCE

    a) Term loan under IDBI Refinance scheme


    b) IDBIƞs seed capital scheme
    c) Underwriting the capital issues
    d) Guarantee loans from commercial banks
    Underwriting the capital issues is however,
    normally restricted to projects to be set up in
    the backward areas of the state. SIPCOT is the
    2nd state level institution eligible for refinance
    in Tamilnadu under the IDBI refinance
    scheme.
    Following arrangements evolved between Tamilnadu
    industrial investment corporation limited (TIIC) & SIPCOT
    in regard to lending term loans to industrial units under the
    IDBI refinance scheme.
    ƥ All SSI units will be within the purview of TIIC.
    ƥ In respect of medium & major scale industries.

    1) TIIC can be approached if the term loan requirement is


    rs.30 lakhs or less in the case of companies with
    limited liability,& if the term loan requirement is rs.15
    lac or less in the case of proprietary or partnership
    firm.

    2) The SIPCOT will sanction the balance of loan, if the


    requirement is above rs.30 lakhs in case of companies
    with limited liability or above rs.15lac in the case of
    proprietary or partnership concern.

    3) If the paid up capital & reserves of the company are


    more than rs.1 crore,they will apply only to SIPCOT.
    Project Identification & supply of
    project profiles:
    ƥ SIPCOT role is to fulfilling the objectives of rapid
    industrial growth & industrial dispersal in backward
    areas.
    ƥ Recognising that identification of a profitable project is
    the foremost step an entrepreneur has to take while
    venturing into medium or major industry.
    ƥ SIPCOT prepare project profiles giving sufficient details
    to enable entrepreneur to take preliminary investment
    decision.
    ƥ SIPCOT prepared project profiles for a number of
    feasible projects & made available to entrepreneur at a
    nominal cost.
    Entrepreneurial Guidance

    ƥ SIPCOT has built up a data bank


    containing classified information of various
    procedures to be gone through, forms to
    be filled up & compliance with assessing
    the merits of alternative locations for the
    proposed projects with reference to the
    source of raw materials, market potential
    & facilities available in particular areas.
    Business Development:
    ƥ The first step SIPCOT has taken in this regard is to bulid up & update the list of
    entrepreneurs holding letter of intent & licences in the state. It contacts these
    entrepreneurs regularly with a view to find out the stage of implementation.

    ƥ It also identifies their problems & help to overcome these problems & go ahead with
    implementation.

    ƥ It provides guidance to new entrepreneurs on location of plant, economic size of the


    unit, foreign collaboration etc.

    ƥ The business development department guides entrepreneur in applying for licences


    & registrations to the central Government, approval on collaboration, import licence,
    allocation of scarce raw materials & clearance from local authorities or financial
    institution.

    ƥ It also helps entrepreneurs to get necessary commitment for supply of power


    &construction materials for putting up the project.

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