Here’s How MSME Industry is Moving Ahead

Many MSME groups, including state governments are trying to explore opportunities and reduce its effect on the business ecosystem
  • BY Jaspreet Kaur

    Feature Writer, BusinessEx

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  • Sep 28,2021
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  • 11 Mins Read

The business landscape is swiftly changing. Coping with the varying trends and fiascos are key for business sustenance in the market. Amid all of this, MSMEs are primarily affected in the marketplace. Small businesses have not arisen enough in contrast with the pre-pandemic phase. 

Since the business activity has resumed, things have normalized. However, MSMEs are grappling with the present situation. Business conditions are uncertain as the pandemic is not over yet. Nonetheless, many MSME groups, including state governments are trying to explore opportunities and reduce their effect on the business ecosystem. 

In these hard times, central government, as well as state government, are playing an important role in uplifting the MSME industry anew: 

MP’s MSME Council Aids Small Businesses 

The MSME Facilitation Council of Madhya Pradesh will reportedly be hearing problems of small businesses twice a month. According to a report by The Free Press Journal, Rajesh Agrawal, joint-director of the MSME Department assured that the MSME Facilitation Council will now hear the cases of the MSME units twice a month to a visiting delegation of the Association of Industries of Madhya Pradesh (AIMP). 

Under the leadership of the president of AIMP Pramod Dafaria, a delegation of the MSME units met Agrawal in Bhopal. Agrawal said an order will be issued in this regard. Dafaria informed that as many as 300 cases are pending in the district itself and steps should be taken for their early disposal.

Agrawal has also assured that in the future in case of pending dues, the payment will be made along with interest. He said additional hearings would be made to settle the pending cases and the final order will be uploaded within two days in the council's portal. Dafaria said the meeting lasted over an hour and was held in a cordial atmosphere. 

TN-based Small Company Strikes Down Deal with Boeing 

It's the first time that an MSME in Tamil Nadu managed to bag a deal in the international market. According to a report by The Economic Times, a Tamil Nadu-based company has clinched a deal with the largest aerospace firm Boeing. Aerospace Engineers Private Limited, located in Salem, won a long-term contract from Boeing to manufacture and supply critical aviation components and parts for the global aerospace company’s products.

The contract order was handed over to R. Sundaram, CEO and Managing Director, Aerospace Engineers Private Limited by Thiru Ashwani Bhargava, Director, Supply Chain Management, Boeing India in the presence of Tamil Nadu Chief Minister M.K.Stalin.

An official release by Tamil Nadu’s government said, the cooperation between Aerospace Engineers Private Limited and Boeing is a significant milestone and will provide an impetus to the growing aerospace and defense ecosystem in Salem and Hosur and Tamil Nadu Defence Industrial Corridor.

Assisting the MSME Sector by Upthrusting Coir Industry 

As per The Economic Times’ report, Union Minister for Micro, Small and Medium Enterprises (MSME) Narayan Rane has called for developing the Coir Industry in Konkan, North and North-Eastern region of the country and expand the market network, as per a release by Ministry of Micro, Small & Medium Enterprises on Monday.

"Konkan region has great opportunities for the development of Coir Industry, as its coastal areas have good coconut crop. India contributes 70 per cent of the global production of Coir and 80 per cent of the world trade in Coir products. Coir industry employs more than 7.3 lakh people in rural areas," addressing the 238th Meeting of the Coir Board in Gujarat's Kevadia on Monday, Rane said

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