Coimbatore industrialists met Union Finance Minister Nirmala Sitharaman on Wednesday, presenting demands for GST standardization, solar panel subsidies, and support for women entrepreneurs.
Coimbatore: Industrialists in Coimbatore presented their demands to Union Finance Minister Nirmala Sitharaman during her visit to the district on Wednesday. The meeting focused on various issues including GST standardization, support for solar energy adoption, and initiatives for women entrepreneurs.
R Srinivasan, honorary president of Tamil Nadu Hotels Association, highlighted the inconsistencies in GST rates across different food items. He pointed out that while sweets are taxed at 5% with input credit, food is taxed at the same rate but without input credit. "Savouries are taxed at 12%. We are forced to charge different GST rates on the same bill for customers. For instance, there's no GST on buns, but when cream is added inside, the GST rises to 18%," Srinivasan explained. He urged the minister to consider standardizing GST rates for all items to simplify the process for businesses and consumers alike.
M Karthikeyan, president of Coimbatore District Small Industries Association, sought government support for the installation of rooftop solar panels in industries. He requested subsidies for systems starting from 5KW capacity, with a repayment period of 10 years. This initiative aims to promote sustainable energy practices among small and medium enterprises in the region.
R Nandhini, chairperson of CII southern region, brought attention to the potential of women entrepreneurs in Coimbatore. Noting that over 60% of higher education graduates in the district are women, she proposed the establishment of a Women Entrepreneur Hub (WE-Hub) in Coimbatore, similar to the successful model in Hyderabad. This Centre-supported hub would provide resources, mentorship, access to finance, and networking opportunities for aspiring women entrepreneurs.
Additionally, Nandhini advocated for the creation of a National Centre of Excellence in Coimbatore to leverage the district's strengths in research and development, particularly in technology and engineering fields. This center would further boost the region's reputation as a hub for innovation and technical expertise.
The meeting provided a platform for local industry leaders to directly communicate their concerns and suggestions to the Union Finance Minister, highlighting the diverse needs of Coimbatore's business community.
R Srinivasan, honorary president of Tamil Nadu Hotels Association, highlighted the inconsistencies in GST rates across different food items. He pointed out that while sweets are taxed at 5% with input credit, food is taxed at the same rate but without input credit. "Savouries are taxed at 12%. We are forced to charge different GST rates on the same bill for customers. For instance, there's no GST on buns, but when cream is added inside, the GST rises to 18%," Srinivasan explained. He urged the minister to consider standardizing GST rates for all items to simplify the process for businesses and consumers alike.
M Karthikeyan, president of Coimbatore District Small Industries Association, sought government support for the installation of rooftop solar panels in industries. He requested subsidies for systems starting from 5KW capacity, with a repayment period of 10 years. This initiative aims to promote sustainable energy practices among small and medium enterprises in the region.
R Nandhini, chairperson of CII southern region, brought attention to the potential of women entrepreneurs in Coimbatore. Noting that over 60% of higher education graduates in the district are women, she proposed the establishment of a Women Entrepreneur Hub (WE-Hub) in Coimbatore, similar to the successful model in Hyderabad. This Centre-supported hub would provide resources, mentorship, access to finance, and networking opportunities for aspiring women entrepreneurs.
Additionally, Nandhini advocated for the creation of a National Centre of Excellence in Coimbatore to leverage the district's strengths in research and development, particularly in technology and engineering fields. This center would further boost the region's reputation as a hub for innovation and technical expertise.
The meeting provided a platform for local industry leaders to directly communicate their concerns and suggestions to the Union Finance Minister, highlighting the diverse needs of Coimbatore's business community.