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

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 huge money from their own pockets on borrowed sources. Once you buy land and start investing after a tedious process of following up with bureaucrats and various departments, the local elements show up their face, knowing that you have invested your money and time. They understand your difficulties of withdrawing from the project after deploying a substantial amount. Then they exploit the chance. But a lot has changed now, though still there is huge scope for improvement.

There should be a strong mechanism all over the country to ensure that no local elements play foul in the process of building a business unit after the government gives clearance to set up the unit.



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