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Odisha MSMEs facing land, labour crisis

Expressing concern over financial crisis faced by the MSMEs, Jena said financial institutions like banks are not keen to support MSMEs and their loan approval process is cumbersome.

Published: 01st August 2019 06:49 AM  |   Last Updated: 01st August 2019 06:49 AM   |  A+A-

Image for representational purpose only (Photo | Screengrab)

By Express News Service

BHUBANESWAR:  Additional Secretary of MSME department and MD of Odisha Small Industries Corporation Limited (OSIC) Prasanna Kumar Jena said MSMEs in the State are facing land, labour and financial crisis. Addressing the MSME Summit 2019, organised by Indian Chamber of Commerce (ICC), here on Wednesday, Jena said MSMEs, which have potential to generate more jobs, are struggling for survival.

“These units are struggling for land to set up their establishments despite the State having a land bank under Idco. Another major area of concern is skilled labour. Though plenty of labour is available in the market, skilled manpower crisis still persists. The State Government is working to resolve these crises,” he said.

Expressing concern over financial crisis faced by the MSMEs, Jena said financial institutions like banks are not keen to support MSMEs and their loan approval process is cumbersome. “It is high time the State Finance Corporation is revived for the betterment of MSME sector,” he added. Among others, co-chairman, Odisha State Council of ICC JB Pany also spoke.
 

More from Odisha.

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