“WHEN AN MSME goes to a bank for financing, it means that it is a patient and needs to be in the ICU. That is how banks should treat the business. Instead, they ask for several documents and take a long time to lend, if at all,” says Gaurav Kumar Jain, the owner of Meerut-based MSMEs K.R. Industries, K.R. Synthetic and K.R. Rubber, which manufacture a range of rubber, sports goods and fitness equipment.
The district of Meerut in Uttar Pradesh is India’s second-largest producer of sports goods after Jalandhar in Punjab. But problems in sourcing raw material, meeting international quality standards and challenges with ease of doing business are some of the biggest hurdles for MSMEs in the space, says Jain.
His comments are met with laughter by other MSME owners and sectoral experts gathered in his office. Almost all recognise the bitter truth behind his comments even as they grapple with their own challenges. Take Sajid Saifi, President of the Mini Gas and Petromax Spare Manufacturers and Traders Association in Meerut. The mini gas cylinder cluster in Meerut has about 400 units and is looking for a proper space for production. “We want a common facility centre that would help us with adequate space for testing, getting raw materials and production,” says Saifi. But despite its large markets in India and abroad, it has been unable to convince the authorities.
Bu hikaye Business Today India dergisinin April 14, 2024 sayısından alınmıştır.
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Bu hikaye Business Today India dergisinin April 14, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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