Different Institutional Setups (SIDCO, SIPCOT, SISis)

Different Institutional Setups

SIPCOT - State Industries Promotion Corporation of Tamil Nadu Limited

Objectives

• SIPCOT has rendered fruitful services to the state by identifying, developing, maintaining industrial areas in backward and most backward talukas of the State, which had potential to grow.
• Establish, develop, maintain and manage industrial complexes, parks and growth centres at various places across the State of Tamil Nadu.
• SIPCOT's role in assisting the industrialization in the State is not only quantitative but also qualitative.
• To ensure a good impact with the available limited resources, SIPCOT has created Industrial Complexes and Parks, strategically located in Nineteen places and Twelve Districts, which occupy a place of pride in the State's industrial map.

Functions of SIPCOT

The Functions of State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT) are^]

1. Development of industrial complexes/parks/industrial estate in Nallamballi Road growth centres with basic infrastructure facilities
2. Establishing sector-specific Special Economic Zones (SEZs);
3. Implementation of Special infrastructure Projects;

SIDCO - SMALL INDUSTRIES DEVELOPMENT CORPORATION (SIDCO)

Objectives

1. The main objective of SIDCO is to stimulate the growth of industries in the small scale sector
2. To provide infrastructure facilities like roads, drainage, electricity, water supply, etc is one of the primary objective of SIDCO.
3. To Promote industrial estates which will provide industrial sheds of different sizes with all basic infrastructure facilities.
4. To Provide technical assistance through training facilities to the entrepreneurs.
5. To Promote skilled labor through the setting up of industrial training institutes.

Functions of SIDCO

1. SIDCO supplies scarce raw materials:

Some of the rare raw materials are procured by the corporation either from the domestic market or from abroad and are provided to the needy small scale industries.

2. SIDCO provides marketing assistance:

In order to provide an efficient marketing support to small scale industries, the corporation has taken up various schemes. SIDCO makes advance payments for obtaining orders and distribute them among the various small scale units. SIDCO also arranges for buyer — seller meets frequently.

3. SIDCO assists in Bills discounting:

When small scale units supply goods to government departments, there is a delay in receiving payments. In such a situation, the bills drawn on government departments will be discounted by SIDCO and upto 80% of the bill value is given to the supplier. This helps the SSI units in solving their working capital crisis.

4. SIDCO provides Export marketing assistance:

To promote export marketing among the small scale industries, SIDCO has developed websites because of which it is able to display the products of the small scale industries in foreign markets and obtain export orders. Once an export order is obtained, the Common export manager of SIDCO will make arrangements for extending various services for export of the product. SIDCO also helps in the small scale units taking part in the international trade fair at New Delhi, Pragati Maidan so that the products of small scale industries of Tamilnadu are displayed.

5. SIDCO set up Captive power plants:

In order to provide uninterrupted and good quality power supply, SIDCO has taken up a plan to set up captive power plants in major industrial estates. It is now planning to set up these plants in 10 industrial estates.

6. SIDCO promotes skill development centres:

In an effort to supply skilled laborers to various small scale industries, skill development centres are being set up in various industrial estates which will be training workers in varied industrial activities and they will be trained in modern skill.

7. SIDCO promotes women entrepreneurs:

In addition to the above, in order to promote women entrepreneurs, a separate industrial estate for women has been set up at Tirumullaivoyal, near Chennai, where women entrepreneurs are trained in various fields of small scale industries.

SISIs >>>>>Click here