‘Ailing MSME sector is in dire need of State support’
The Hindu
15 industrial associations stage a protest with various demands
In a bid to save the bleeding micro, small and medium enterprises in the country, the Central and State governments should step and help the MSME sector in a big way immediately - with this prime demand, members and office-bearers of over 15 industrial associations, led by Madurai District Tiny and Small Scale Industries Association (MADITSSIA), staged a demonstration, joining the nationwide protest, in front of the Madurai Collectorate on Monday.
Apprehending tough actions by financial institutions, a majority of the small and tiny units were functioning at a loss. “If we locked our units, the banks may take legal action and proceed with auction. Hence, in a bid to prevent such a situation, many units, despite bleeding, are functioning,” MADITSSIA president M. S. Sampath said.
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