MSMEs should use slowdown period to innovate, re-think strategy: Expert
Coimbatore, Oct 15 (KNN) If a Defence unit is set up in Tamil Nadu then, it will be bring lot of businesses for small industries working in the sector, said an Expert.
''Setting of a defence unit in Tamil Nadu will be a good step as a lot of small scale industries are working towards the aerospace,'' said CS Prakash, Chairman cum Managing Director of Pushpak India Pvt Ltd.
He is also the Chairman of the Micro Small and Medium Enterprise (MSME) Defence Suppliers Group of Federation of Indian Micro and Small & Medium Enterprises (FISME).
On Saturday, representatives of Laghu Udyog Bharati (LUB), an association of MSMEs requested centre to set up a major defence manufacturing unit in Tamil Nadu.
Opining on this, Prakash hailed the step and said this will also connect several industries on the ground working in the aerospace and defence sector.
''There is no slowdown in aerospace related manufacturing units. It is growing and will keep on growing, there is no slowdown in this industry. Pushpak India are also into aerospace industry and as compared to last year the growth is very high,'' he asserted.
While commenting on slowdown, Paraksh said, ''When slowdown comes a lot of innovation will start. This is a time to innovate ourselves, re-think about our strategies, else with the routine work one cannot think out of the box. We have to use this negative scenario as an opportunity to improve ourselves.''
''A lot of international industries are coming to India, so in this situation, we have to scale up industries. Once, the industries scale up then it will help in the development of MSMEs. I know that this is a critical situation but this won't continue for a long time,'' he added.
''As a chairman of Defence MSME, i am telling that industries will definitely grow and lot of opportunities will come, even Auto industry will come out of this slow down. It's a artificial slow down not natural,'' he concluded. (KNN Bureau)