MSMEs getting new order, sector faces shortage of staff
MSMEs getting new order, sector faces shortage of staff

In the Indian market, MSMEs working in the field of non-essential commodities for a long time have started getting new orders. These include sectors such as auto parts and garments, which have received new orders of up to 20-25 percent as compared to February-March this year. But due to the complete halt of work during the last two months, these entrepreneurs have a huge shortage of working capital. Due to the return of the workers to their home state, they are facing difficulties in speeding up the production.

For your information, let us tell you that the small entrepreneurs who produce auto parts in Faridabad said that the production of two-wheelers is expected to be 50 percent by July. This is the reason that they are getting orders from two-wheeler manufacturers to make parts. According to the Confederation of Cloth Manufacturing Association, by the end of May, 22 percent of the manufacturing unit of the country had started functioning.

In his statement, Secretary General of the Federation of Indian Small Medium Enterprises (FISME), Anil Bhardwaj said that the MSMEs are getting new orders and the wheel of work is spinning. The MSME is getting encouragement due to the approval of the bank and the speed in repayment of unsecured loans. According to the Finance Ministry data, in the first four days of June, loans worth more than Rs 10,000 crore were approved and more than Rs 3,000 crore was allocated.

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