One of the primary characteristics that characterize a country's economic growth is its industrial development. Aside from the contributions of large and leading industries, the MSMEs (micro, small, and medium-sized industries) play an important role.
The contribution of MSMEs is determined by a variety of factors, including infrastructure development, government assistance, the current market, various banking facilities, various government-based regulations, and much more.
MSMEs play a vital role in the manufacturing industries. They are distinguished by their ability to contribute to national employment, while requiring minimal investment. But, due to several situations, MSMEs in India face several issues.
MSME's Point of View
MSMEs in the manufacturing sector bring significant value to the final result, while carrying out everyday operations with low resources and capital. The contribution of these MSMEs, while positive, needs to be enhanced for the country's long-term development in terms of employment, growth, and industrialization.
When we examine closely at these MSMEs, we can see a slew of problems.
MSMEs Manufacturing Sector Investment and Growth
The previous several decades have been transformative for rising MSMEs as a dynamic sector of the Indian economy. MSMEs contribute to the development and industrialization of rural belts and other backward areas, by providing huge employment at cheaper capital costs as compared to large-scale enterprises. This promotes job creation and assures a fair distribution of national income and wealth.
Despite being the backbone of the Indian economy, expanding firms encounter challenges and obstacles that impede their progress, into profitable ventures.
What are the problems of MSMEs in India?
Here are some of the issues that developing businesses face today:
1: One of the primary challenges, when MSMEs try to acquire money, is the high-interest rates charged by banks and the collateral requirements.
2: Access to equity money is similarly limited. The reason for this is that most investors are wary of investing in unknown/small enterprises.
3: Because, there is no revival mechanism for ill enterprises in the MSME sector, a company never has an opportunity to reinvent itself and become profitable.
4: Out-dated technology and innovation can be major challenges because their utilization impedes MSMEs' competitiveness and growth.
5: Marketing and raw material procurement, as well as a lack of market intelligence due to a lack of awareness and financial help, are significant restraints in this sector.
Netsol Water steps in to help MSMEs with their generated wastewater
Understanding the hardships and issues that Manufacturing MSMEs encounter, Netsol Water steps in to meet their needs.
Taking on the burden of the capital investment induced in the water treatment, and recycling plant that has been made mandatory by the government of India, based on a certain production limit, Netsol Water extends a helping hand that allows MSMEs to only pay for the amount of water recycled.
Installation and maintenance
We alsoprovide cost effective solutions for the expense of establishing, operating, maintaining, and improving the water treatment and recycling plant.
We believe in ongoing innovation and change, providing wastewater recycling solutions to clients in industries such as, pharmaceuticals, textiles, chemicals, automobiles, food and beverage, and distilleries.
How can we assist?
Netsol Water provide a wide range of modern solutions, including water softener, wastewater treatment plant, sewage treatment plant, water treatment plant,Commercial RO Plants, Industrial RO Plants and many more.