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‘Center help yet to reach flood-hit Chennai based MSMEs’

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The Center’s help is yet to reach the flood-hit micro, small and , medium enterprises (MSMEs) in the city, which incurred heavy losses due to excess rains two months ago.

As many as 10,000 micro units, of which 95 per cent are into service sector, has been hit by the Chennai floods, while loss in terms of employment has been to the tune of 50,000 in the micro enterprises alone,

Many leaders from Center and State have visited the MSMEs and assured full assistance.

“MSME Minister Kalraj Mishra and Union Finance minister Arun Jaitley have visited and promised for assistance soon, but we did not get any package and help from them till the time,” Mohan, who is also a Past President of TANSTIA.

He said that a team from Centre visited the city but did not assess the industrial area. “They did the assessment of the residential areas only,” he added.

Further, adding more to their problems, the entrepreneur highlighted that even the banks are not helping them in a proper manner.

State Government had helped us initially by setting up state level banking committee, but now state is also expecting the funds from the centre.

Ganesh S, Managing Director, Sam Plastics & Film said, “We are hopeful, but if we do not get any assistance, we won’t able to survive.”

The entrepreneur expressed anguish that the Ministers from the Centre came and went off but the industry did not receive any help so far. Ganesh alleged that not much has been done by the State Government as well.

“We are trying to put some pressure on Government for releasing funds for the MSMEs,” he added.

Of the estimated Rs 15,000 crore losses incurred due to the recent devastating floods in Chennai, coastal Tamil Nadu and the neighbouring Puducherry, MSMEs bored the loss of about Rs 1,700 crore.

SMEStreet Desk

SMEStreet is fast growing platform dedicated to entrepreneurs from small and medium sized businesses (SMEs). Committed to facilitate Knowledge & Networking for Business Growth, SMEStreet offers value added content which shows the actual voice of Indian MSMEs.

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