TIIC is sponsored by the ______________.
|A. Government of Karnataka.|
B. Government of Andhra Pradesh.
C. Government of Kerala.
D. Government of Tamil Nadu.
The Correct Answer Is:
- D. Government of Tamil Nadu.
The correct answer is D. Government of Tamil Nadu.
Tamil Nadu Industrial Investment Corporation Limited (TIIC) is indeed sponsored by the Government of Tamil Nadu. To explain this further, we will delve into the history and role of TIIC, and subsequently, we will discuss why the other options are not correct.
Why the correct answer is D. Government of Tamil Nadu:
TIIC, which stands for Tamil Nadu Industrial Investment Corporation Limited, is a financial institution that primarily operates in the state of Tamil Nadu, India. It was established by the Government of Tamil Nadu with the primary objective of providing financial assistance and support to industrial projects within the state.
TIIC plays a crucial role in the economic development of Tamil Nadu by offering a wide range of financial products and services to entrepreneurs and businesses.
This support includes term loans, working capital assistance, and various credit facilities designed to promote and facilitate industrial growth in the state. TIIC’s funding assistance covers a spectrum of industries, from small and medium-sized enterprises (SMEs) to large industrial ventures.
Moreover, TIIC is instrumental in promoting entrepreneurship and employment opportunities within Tamil Nadu. By offering loans and financial support, it enables businesses to expand, create jobs, and contribute to the state’s economic progress.
This aligns with the objectives of the Government of Tamil Nadu, which is committed to fostering industrial development, creating a conducive business environment, and generating employment opportunities for its citizens.
Furthermore, TIIC collaborates closely with the state government’s industrial and economic policies, ensuring that its operations are in sync with the government’s overarching goals.
It facilitates the government’s initiatives for industrial growth and acts as a vital instrument for channeling financial resources into the state’s industries. In this way, it is evident that TIIC is directly sponsored and established by the Government of Tamil Nadu to promote industrial and economic development within the state.
Why the other options are not correct:
A. Government of Karnataka:
The Government of Karnataka sponsors its own industrial and financial institutions. One such institution is the Karnataka State Industrial and Infrastructure Development Corporation (KSIIDC).
KSIIDC plays a role similar to that of TIIC in Karnataka, providing financial assistance and support for industrial and infrastructure development within the state. Therefore, it is not accurate to say that TIIC is sponsored by the Government of Karnataka; rather, it is sponsored by the Government of Tamil Nadu.
B. Government of Andhra Pradesh:
Andhra Pradesh, like many other Indian states, has its own dedicated financial institutions for industrial and economic development. The Andhra Pradesh Industrial Infrastructure Corporation (APIIC) is an example. APIIC functions to promote industrialization and infrastructure development within the state of Andhra Pradesh. Hence, the statement that TIIC is sponsored by the Government of Andhra Pradesh is not accurate.
C. Government of Kerala:
Kerala also has its own institutions for industrial and economic development, such as the Kerala State Industrial Development Corporation (KSIDC). KSIDC provides financial support and infrastructure services for industries in Kerala.
It is essential to note that TIIC is specifically associated with Tamil Nadu and does not operate in Kerala. Therefore, it is not correct to claim that TIIC is sponsored by the Government of Kerala.
In summary, the correct answer to the question is indeed D. Government of Tamil Nadu. TIIC, as a financial institution, is a critical component of Tamil Nadu’s industrial and economic landscape, established and sponsored by the Government of Tamil Nadu to facilitate industrial growth and development within the state.
It plays a pivotal role in providing financial assistance to businesses, thereby contributing to job creation and economic progress in Tamil Nadu. The other options (A, B, and C) are incorrect because TIIC does not have any affiliation with the governments of Karnataka, Andhra Pradesh, or Kerala, as it is a Tamil Nadu-specific institution.