Entrepreneurs from the Dalit community thrive in Tamil Nadu

The Annal Ambedkar Business Champions Scheme, a groundbreaking initiative by Chief Minister M K Stalin, has been a game-changer for 1,303 entrepreneurs from the Scheduled Caste and Scheduled Tribe communities in Chennai. Since its launch in the last financial year, this scheme has paved the way for these individuals to start new ventures and achieve remarkable success.

One such success story is that of S Anjali, who was able to kickstart a fibre bag manufacturing unit with the support of the District Industries Centre in Sivaganga district. Employing 10 individuals, Anjali’s unit generates a revenue of Rs 4 lakh per month, with a monthly profit of Rs 70,000. Similarly, Sathosh Kavin ventured into the match factory business with a bank loan of Rs 1.96 crore, aided by a subsidy of Rs 60,32,000. Today, his match factory employs 15 individuals and rakes in a revenue of Rs 30 lakh per month.

The scheme, which offers a 35% subsidy on the total capital and an additional 6% subsidy on the interest paid by the beneficiary, has been a lifeline for these entrepreneurs. With an initial allocation of Rs 100 crore, the scheme has seen overwhelming response with 12,472 applications received online. Of these, 7,365 were recommended for bank loans, and 2,136 proposals were approved.

The total subsidy disbursed to the beneficiaries under this scheme amounts to a staggering Rs 159.67 crore, with Rs 33.09 crore specifically benefiting the 288 women entrepreneurs. Through awareness campaigns and training sessions, the government has ensured that these individuals are equipped with the necessary skills and knowledge to thrive in their respective businesses. The Annal Ambedkar Business Champions Scheme is not just a financial boost but a beacon of hope for aspiring entrepreneurs in Chennai.