"SME-small and medium enterprise, the backbone of the Indian economy"
I had read the article "SME-small and medium enterprise, the backbone of the Indian economy"
and as I was an entrepreneur for 39 years, with two critical falls would like to state the following
1. God helps only those who want to help them
2.Expecting everything by govt for job creation
we should understand that in decades we have developed an ecosystem and now entrepreneurs and society should take it forward and govt can become a facilitator and make policy to make the development of MSME.
Now, for any point, sick MSMEs units have got 1 lakh crores as NPA but the jobs involved may be1 cr as per our estimate and I feel by investing@ 15000 cr by way of equity and by little push by govt, this jobs can be retained and govt in the next two or three years can earn 15000 crores by GST.
Also if these 1 crore jobs spent their salary for basic needs, it will have a money multiplier effect.
you may be aware that the UK Sinha committee, whose report also suggests a similar solution
coming back to the second part, whether MSME entrepreneurs, took into their own operational efficiency and passion? by analyzing their financials like balance sheet & Profit &loss, we can get 52 ratios which will make them aware of their efficiency optimization. I am Providing this service free of cost.
This alone can increase job retaining capacity by asp 3 cr jobs.
In Hindi, we say "Apna Hath Jagannath"
let all of us come out of the mindset of help from govt and let us do if what we can do ourselves for our own unit and with pro advice govt, a lot of things will align.
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