MCCIA Survey Reveals 37% Companies in Pune Report 20% Revenue Growth

ENA MSME 2024-12-12 14:16:48 Pune, Dec 12 (KNN) Punes Micro, Small, and Medium Enterprises (MSME) sector is projected to end 2024 on a strong note, as 81 per cent of respondents in a recent survey by the Mahratta Chamber of Commerce, Industries and Agriculture (MCCIA) expressed optimism about growth. This positive sentiment is supported by robust year-on-year credit growth to the sector, which many hope will translate into job creation and retention, easing unemployment challenges in the region. In our survey, 81 per cent of companies expect growth, with only 9 per cent forecasting degrowth, said Prashant Girbhane, Director General of MCCIA. The survey included responses from 108 companies, revealing that 37 per cent anticipate revenue growth exceeding 20 per cent, with the electronics and defence manufacturing sectors driving much of this momentum. The financial health of the MSME sector has been buoyed by consistent credit availability. According to the State Level Bankers Conference (SLBC), banks have exceeded their credit disbursal targets in the last three fiscal years, achieving 95 per cent of the target in 2021-22, 120 per cent in 2022-23, and 117 per cent in 2023-24. By September 30, 2024, banks had already achieved 68 per cent of the states target for the current fiscal year, with Pune district outperforming at 72 per cent. Girbhane attributes this higher credit flow to the sectors revival and sustained growth. MSMEs play a pivotal role in the local economy, accounting for roughly 50 per cent of job creation. In Pune district alone, the sector employs over 5 lakh individuals. However, the question remains whether the anticipated growth will spur significant job creation amid increasing production sophistication. The hope is that this growth spurt will result in general job creation, said an MSME owner in Chakan. As the sector prepares for a promising year, stakeholders are optimistic that the positive trajectory in credit and business performance will further solidify Punes reputation as a key hub for MSMEs, fostering economic growth and employment opportunities in the region. (KNN Bureau) Pune, Dec 12 (KNN) Punes Micro, Small, and Medium Enterprises (MSME) sector is projected to end 2024 on a strong note, as 81 per cent of respondents in a recent survey by the Mahratta Chamber of Commerce, Industries and Agriculture (MCCIA) expressed optimism about growth. This positive sentiment is supported by robust year-on-year credit growth to the sector, which many hope will translate into job creation and retention, easing unemployment challenges in the region. In our survey, 81 per cent of companies expect growth, with only 9 per cent forecasting degrowth, said Prashant Girbhane, Director General of MCCIA. The survey included responses from 108 companies, revealing that 37 per cent anticipate revenue growth exceeding 20 per cent, with the electronics and defence manufacturing sectors driving much of this momentum. The financial health of the MSME sector has been buoyed by consistent credit availability. According to the State Level Bankers Conference (SLBC), banks have exceeded their credit disbursal targets in the last three fiscal years, achieving 95 per cent of the target in 2021-22, 120 per cent in 2022-23, and 117 per cent in 2023-24. By September 30, 2024, banks had already achieved 68 per cent of the states target for the current fiscal year, with Pune district outperforming at 72 per cent. Girbhane attributes this higher credit flow to the sectors revival and sustained growth. MSMEs play a pivotal role in the local economy, accounting for roughly 50 per cent of job creation. In Pune district alone, the sector employs over 5 lakh individuals. However, the question remains whether the anticipated growth will spur significant job creation amid increasing production sophistication. The hope is that this growth spurt will result in general job creation, said an MSME owner in Chakan. As the sector prepares for a promising year, stakeholders are optimistic that the positive trajectory in credit and business performance will further solidify Punes reputation as a key hub for MSMEs, fostering economic growth and employment opportunities in the region. (KNN Bureau) 40225 https://knnindia.co.in/news/newsdetails/msme/mccia-survey-reveals-37-companies-in-pune-report-20-revenue-growth 2024-12-12 14:16:48 knnindia.co.in MCCIA Survey Reveals 37% Companies in Pune Report 20% Revenue Growth