South Indian MSMEs have performed better than those in other regions: Study
Updated: Oct 16, 2015 01:34:48pm
New Delhi, Oct 16 (KNN) Micro, small and medium enterprises from the states of Tamil Nadu, Kerala, Karnataka, Andhra Pradesh and Telangana have registered a higher turnover growth than their counterparts in the rest of the country during the year 20113-14, according to a media report based on a study carried out by CRISIL.
The study revealed that the Southern states recorded a growth in average annual turnover of 21 per cent in 2013-14, compared to 13 per cent overall growth of MSMEs.
Significantly, the key contributors were Andhra Pradesh and Tamil Nadu which recorded 21 per cent and 18 per cent respectively.
For the study, the performance of about 8400 MSMEs was analysed based on their financials for the year April-1 2013 to March-31, 2014.
It showed that the average annual turnover of MSMEs grew from Rs 15.18 crore in 2011-12 to Rs 18.14 crore in 2012-13 (a growth of 19 per cent) and to Rs 20.53 crore in 2013-14 (a growth of 13 per cent).
As far as sectors are concerned, those contributing to growth in the southern regions are pharma and healthcare (45 per cent growth in annual turnover of MSMEs), metal (35 per cent), leather (32 per cent), agro processing (21 per cent), textile (17 per cent) and IT (16 per cent).
The report went on to say that MSMEs in South India (Andhra Pradesh and Tamil Nadu in particular) are expected to surpass the other regions in terms of future growth, owing to support from policies for industrial development, including the setting up of various industrial centres in less developed regions of southern Tamil Nadu, development of Madurai-Tuticorin corridor in Tamil Nadu, a green energy corridor and infrastructure development of 31 cities in Andhra Pradesh under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) scheme. (KNN Bureau)
The study revealed that the Southern states recorded a growth in average annual turnover of 21 per cent in 2013-14, compared to 13 per cent overall growth of MSMEs.
Significantly, the key contributors were Andhra Pradesh and Tamil Nadu which recorded 21 per cent and 18 per cent respectively.
For the study, the performance of about 8400 MSMEs was analysed based on their financials for the year April-1 2013 to March-31, 2014.
It showed that the average annual turnover of MSMEs grew from Rs 15.18 crore in 2011-12 to Rs 18.14 crore in 2012-13 (a growth of 19 per cent) and to Rs 20.53 crore in 2013-14 (a growth of 13 per cent).
As far as sectors are concerned, those contributing to growth in the southern regions are pharma and healthcare (45 per cent growth in annual turnover of MSMEs), metal (35 per cent), leather (32 per cent), agro processing (21 per cent), textile (17 per cent) and IT (16 per cent).
The report went on to say that MSMEs in South India (Andhra Pradesh and Tamil Nadu in particular) are expected to surpass the other regions in terms of future growth, owing to support from policies for industrial development, including the setting up of various industrial centres in less developed regions of southern Tamil Nadu, development of Madurai-Tuticorin corridor in Tamil Nadu, a green energy corridor and infrastructure development of 31 cities in Andhra Pradesh under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) scheme. (KNN Bureau)
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