Tirupati: DIEPC approves Rs 2.48 cr subsidies for 55 industries

Tirupati: The district industrial export promotion committee (DIEPC) meeting has approved Rs 2.48 crore subsidies for 55 industries by clearing their claims in Tirupati district. Chairing the meeting at the Collectorate on Wednesday, District Collector K Venkataramana Reddy said that the loans under the Prime Minister’s Employment Generation Programme (PMEGP) have to be grounded on time and all safety norms should be implemented in industries.

Ha said that Lead district manager (LDM) has to ensure grounding under the PMEGP by the banks. Since April 2023, approvals for starting 57 new units out of 80 proposals received were given while 23 more are under scrutiny. Out of 55 industries who got incentives, investment subsidy was given to 44, power subsidy to four, interest subsidy to six and stamp duty to one unit were approved.

The officials also reviewed the progress of wood carving cluster at Madhavamala in Yerpedu mandal, copper vessels cluster at Yerramareddipalem of Renigunta mandal, Venkatagiri saree printing and dyeing cluster and powerloom cluster in Narayanavanam. He directed the officials to ensure safety standards in industries by conducting regular awareness programmes. District industries officer Prathap Reddy, APIIC zonal manager Chandrasekhar, LDM Subhash, deputy chief inspector of factories Ramakrishna Reddy, DRDA PD AD Jyothi and others attended the meeting.