MSME – Ecostar Business

MSMEs’ endless crises Better initiatives required

Ecostar Editor MagJuly 7, 20211235 Views0

Q. You are now the President of the TTC MIDC Industries Association for two years. How do you assess the issues faced by industrial units located in the MIDC region? A. TTC-MIDC Industries Association (TAMIA), formerly known as Small Scale Entrepreneurs Association (SSEA), as the name itself indicates, is an association of small and mid-sized entrepreneurs. Many of the units belonging to the association are too small. Other than the members, there are hundreds of smaller and very largeindustrial units in the sprawling region. Each one has its own set of issues. Small units have bigger issues ranging from tax to right labour supply and from negligence of law to dishonest elements crept in the ecosystem. Industries still face the legacy of trade unionism and plenty of local governi...

MSME

Duromax Hitech Coatings Slow and steady wins the race

Ecostar Editor MagJuly 7, 20211518 Views0

A name of high quality specialised paints, coatings and adhesives Sanjay Deshmankar, the owner of Lucknow-based Duromax Hitech Coatings, has never been hurrying to upturn his business volume with an aggressive marketing blitzkrieg or another way of adventure. He believes in taking careful steps and a systematic approach so that the delivery of the products is smooth with better stabilisation. The success of the products, where there is a huge entry barrier, speaks his many years long hard work for gaining technical knowledge,demands of the market and dedication to realise his dream. He has freely allowed the phase of trials and errors to ensure what is delivered will be infallible. After completing graduation in mechanical engineering from MNNIT, Allahabad in 1983, Sanjay Deshmankar jo...

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TEXPROCIL 66th Annual General Meeting

Ecostar Editor MagFebruary 15, 20212217 Views0

Manoj K. Patodia Chairman, TEXPROCIL Patodia is a well-known entrepreneur active in various associations. His appointment will help its members in many ways, thanks to his sound knowledge of the industry and MSMEs. Manoj Kumar Patodia is elected Chairman of TEXPROCIL in its 66th Annual General Meeting. Patodia has the export of yarns and fabrics across the world and in real estate development in the southern part of India. He has vast experience in corporate management. spanning over three decades, besides exports. He has played a key role in the establishment of Indian textile products worldwide. He is also a member of the Western region committee of FICCI. Managing Committee Member at Chamber of Commerce Industry (IMC). Prior to this, he was heading the MSME committee and carried...

MSME

MSMEs` never-ending payment crisis

Ecostar Editor MagNovember 18, 20201903 Views0

PSUs must blacklist delinquents in MSMEs` payment Public Sector Units (PSU) must blacklist all contractors and sub-contractors who are delinquent in timely payment to MSMEs. Socially responsible PSUs should own up the responsibility of payment to MSMEs even if such MSMEs happened to work in their sites on indirect sub-contracts. While signing a contract with a large company, PSUs must also reserve a right to make direct payment to MSMEs, in case the direct contractor fails to make timely payment to their sub-contractors There are millions of small and medium enterprises operating in our country. One of the grievances most of them have is payment recovery of their dues from large players. Every government promise would only be superficial for most small companies if a stricter law fo...

MSME

Mazagon Dock Shipbuilders

Ecostar Editor MagNovember 18, 20202023 Views0

Focuses on indigenisation The MDL has indigenised equipment likes on ardome, ship installed chemical agent detection system, bridge window glass, main batteries for Scorpene submarines, multiple cable transit glands and remote-controlled valves with various companies on a no-cost no-commitment basis. Incorporated in 1934, Mazagon Dock Shipbuilders (MDL) has built 796 vessels, including 25 warships and four submarines. It is the only shipyard capable of building destroyers and conventional submarines. INS Kolkata, INS Kochi, INS Chennai, INS Kalvari, INS Khanderi and others have been delivered by MDLin the last five years. In order to give an impetus to the 'Make in India campaign, a dedicated department of indigenisation was set up in November 2015 along with a road map for indi...

MSME

Goa Shipyard

Ecostar Editor MagNovember 18, 20201812 Views0

Widens business base GSL has signed MoUs with NBCC for Project Management Consultancy, with L&T to jointly produce defence equipment for both domestic and export market, with BEL for composites and exports of defence products. Goa Shipyard (GSL) has made significant inroads into the global market with the export of diverse vessels to the Indian Ocean Region (IOR) Countries. Till date, the shipyard has exported 36 vessels and a Damage Control Simulator to friendly foreign countries. These projects were delivered ahead of schedule. The Company's superior quality ships received accolades at the highest levels. Its dominance in exports is evident from 15 overseas deliveries made in the last four years including two large Offshore Petrol Vessels to Sri Lanka, Mauritius and Myanma...

MSME

Hindustan Shipyard

Ecostar Editor MagNovember 18, 20202031 Views0

Sign of growth With best productivity measures and improved morale, Hindustan Shipyard (HSL) has undergone a major turnaround by achieving operating and net profit for the last four consecutive years (FY2015-16 to 2018-19) after a gap of 65 years without any financial assistance or grant from the government. Its revenue from operations (VoP) has increased year-on-year during the last four years. HSL has achieved a VoP of `595 crore, operating profit of `68.08 crore and profit after tax (PAT) of `36.23 crore during FY2018 -19. The PAT has increased by 73% during FY 2018-19whencomparedwithprevious year. HSL has turned around in securing orders in the competitive bidding process. HSL has emerged as the lowest bidder (L1) in the competitive tendering process for 3 tenders during the FY...

MSME

Garden Reach Shipbuilders & Engineers

Ecostar Editor MagNovember 18, 20201565 Views0

Quick response to orders GRSE has the distinction of delivering more than 100 warships to the Indian Navy and Indian Coast Guard. With an excellent track record in ship deliveries, GRSE delivered 11 warships within 32 months. Garden Reach Shipbuilders & Engineers (GRSE) has a significant presence in the segment of Bailey Bridges, with Border Roads Organisation (BRO), Indian Army and civil sectors being the prime customers. GRSE is exporting such bridges to friendly neighbouring countries like Bhutan, Nepal, Myanmar and Bangladesh. GRSE has the distinction of delivering more than 100 warships to the Indian Navy and Indian Coast Guard. The last ship of P-28 project namely Kavarattiis scheduled for delivery to the Indian Navy shortly. With an excellent track record in ship deli...

MSME

Tears of garment industry: Not so colourful for another year

Ecostar Editor MagOctober 22, 20201957 Views0

The sector sees no hope of revival for another one year, as the pandemic is feared to swallow two more festival seasons. Human beings will never stop wearing clothes. People will never stop buying garments. Still, the garment industry has lost its hopes. The industry, dominated largely by unorganized players and with a high level of micro sectors’ involvement as an outsourcing destination, feels the pain with the micro sector losing their base. The demonetization, GST implementation and now the worse lockdown kept them on a deathbed. The garment industry has been passing through a long-drawn bad phase. No industry, as important as the garment sector ever faced a crisis for as long a period as five years. This sector has been suffering for over five years, because of the three major ...

MSME

The Endless Troubles of MSMEs: Need a prudent framework to safeguard the interest

Ecostar Editor MagOctober 22, 20201700 Views0

For MSMEs Covid-19 induced lockdown is just another crisis. India’s hostility with China has opened newer opportunities for SMEs engaged in the high technology and engineering segment. But it is not the opportunity that an average SME is worried about, but the inspector raj and delay in giving approvals. Every SME has this problem. Most SMEs are also afraid of local satraps’ pressure to meet their interests. Local authorities must handle them strictly and warn them of consequences. However, these satraps are hand-in-glove with law enforcers too. It is important to debottleneck local issues, says an entrepreneur who has been engaged in manufacturing aluminium foils. Plenty of local hooliganism triggered by local politicians and NGOs kill the enthusiasm of entrepreneurs, who spend...