Schedule a Call Back
Majority Of MSMEs in Pune to recover within next six months: Study
Industry News- Jun 03,21
According to a survey conducted by the Pune-based MCCIA, 28% of total businesses will reach the pre-covid recovery in six months. The survey was conducted on 150 businesses of which 72% were MSMEs.
Pune, Maharashtra
According to a survey conducted by the Pune-based MCCIA, 28% of total businesses will reach the pre-covid recovery in six months. The survey was conducted on 150 businesses of which 72% were MSMEs. The survey also showed that 29% of businesses will recover in less than 3 months while 24% will recover in a period of three to six months. The remaining 19% have already achieved the pre-covid level.
It was observed that for the businesses which were surveyed, the current level of production remained the same as there was a marginal increase from 69 to 70%. The production level took a good leap before the second wave. It increased from 29% in May till 85% in February. The number of employees in these organizations has also increased from say 21% last year to 86% this year. This number declined to 70% in the month of April. 69% of the organizations that were surveyed, are from the manufacturing sector, 13% from the service sector, and the remaining are involved in both manufacturing and services.
According to LocalCircles survey, it is expected that around 59% of start-ups and MSMEs will scale down or even sell their operations in the coming six months. 41% of them have limited funds that will last for just one month and 22% have funds that might last for the next three months. 49% of start-ups and MSMEs will have to reduce their employee compensation and benefit costs so that they are able to sustain their business.
Out of the total MSMEs in India, around 99% are micro-enterprises, 0.01% are medium enterprises, and 0.52% are small enterprises, according to the MSME Ministry’s annual report 2020-21.
Source – Financial Express
Related Stories
Auto & Auto Components
The growth of the Indian EV market
The industry has been trying to establish localised supply chains with up to 20-30% component localisation having been achieved mainly for e4Ws.
Read moreAutomation & Robotics
OPC UA: The language of Industry 4.0
Industry 4.0, which links the IT (Information Technology) and automation systems, requires many machines and devices to communicate with each other for seamless operation. OPC UA, an information arc..
Read moreAutomation & Robotics
Taplow Group S.A. hosts talk on ‘Unlocking the power of AI in manufacturing’
The event highlighted the role of leadership in AI adoption, emphasising a top-down commitment combined with bottom-up innovation is vital to foster a culture of continuous learning and advancement...
Read moreRelated Products
Heavy Industrial Ovens
INDUSTRIAL SUPPLIES
Hansa Enterprises offers a wide range of heavy industrial ovens.
High Quality Industrial Ovens
INDUSTRIAL SUPPLIES
Hansa Enterprises offers a wide range of high quality industrial ovens. Read more
Hydro Extractor
INDUSTRIAL SUPPLIES
Guruson International offers a wide range of cone hydro extractor. Read more
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
