new
or
You are here : Stone Home > Info Center > Financial News > Indian SMEs demand low-cost funds, steps to fight crisis

Indian SMEs demand low-cost funds, steps to fight crisis

Updated:2009-07-28 11:02:52

A majority of small and medium-sized enterprises (SMEs) in India have demanded lowering cost of finance and additional fiscal support from the government to provide relief to the sector hit by the demand contraction in the global markets, said a survey published Monday.

"Over 90 percent of SMEs feel that demand slowdown has badly impacted them. They indicate that they have lost most of their major markets primarily in Europe and the United States and are struggling to find new markets for their products," according to as urvey conducted by the Federation of Indian Chambers for Commerce and Industry (FICCI).

The single point demand of the participating companies is better financial accommodation by the banks at lower interest rates, the survey said, adding that about 90 percent of the companies depend on banks to meet their finance needs.

The government's initiatives for mitigating the hardship of SMEs have not really percolated down to the firm level. A whopping94 percent of the small and medium enterprises catering to a large extent to the export market have been "severely to moderately" hit by the current economic slowdown, said the survey.

The SMEs demanded better marketing support like participation in fairs abroad for buyer-seller meets and holding awareness programs for SMEs and educating them on how to increase productivity, target new markets and make products commercially viable.

Among other factors, rising cost of raw materials and lack of buyers for products were reported to be areas of concern.

 

Source:http://news.xinhuanet.com

Premium Related Products
Stone sink-126
Price:$0-15
ChinaChina
Stone sink-126
Stone sink-126
Price:$0-15
Origin:China
Categories:Granite
FS
ChinaChina
White palace beige marble slab
White palace beige marble slab
Price:$52
Origin:xiamen
Categories:Marble
Nanan Jianming Stone Co.,Ltd
ChinaChina
Stone sink-509
Price:$0-15
ChinaChina
Stone sink-509
Stone sink-509
Price:$0-15
Origin:China
Categories:Granite
FS
ChinaChina
Browse by: Stone Manufacturers | All Products | For Buyers | For Sellers | Suppliers | Stonebtb.com International | Stonebtb.com China | Site Map
About Us | Stonebtb Service | Contact Us | Our Partners | Video | Exchange Link | Terms of Use
Copyright 2007-2020 Stonebtb.com All rights seserced