Power shortage hurting small units in TN

Chennai, May 3 (KNN)  A number of small firms have had to close their doors to business owing to the ongoing power shortage as well as the general economic slowdown, reports have said.
 
Speaking at a FICCI event here recently, a representative from the MSME Development Institute said that micro, small and medium enterprises have been struggling to stay afloat owing to dwindling orders for their products and lower production capacity as a result of power outages.
 
The units affected are engaged in the manufacture of auto components, chemicals, plastics and leather products, the report said.
 
According to official data, there are over 9.6 lakh MSME units in Chennai.  Although there have been several new registrations, the number of companies closing down operations has risen.   (KNN/ES)