Odisha MSMEs still facing land, labour & financial crisis: Expert

Bhubaneswar, Aug 1 (KNN) Micro, Small and Medium Enterprises (MSMEs) in Odisha are facing land, labour and financial crisis, said Prasanna Kumar Jena, Additional Secretary of MSME Department and MD of Odisha Small Industries Corporation Limited (OSIC).

Speaking at the MSME Summit 2019 organized by Indian Chamber of Commerce (ICC), he said MSMEs are struggling for survivals which have potential to generate more jobs.

He said, “It is high time the State Finance Corporation is revived for the betterment of MSME sector.”

These units are struggling for land to set up their establishments despite the State having a land bank under Idco, he added.

Another major area which is to be focused skilled labour. Plenty of labour is available in the market but crisis still persists. The State Government is working to resolve these crises, he said.

Financial institutions like banks are not keen to support MSMEs and their loan approval process is cumbersome, he added.