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Lockdown-hit industries in first gear | Coimbatore News

MSMEs down shutters in Coimbatore

MSMEs down shutters in Coimbatore Updated: Updated: Share Article Several Micro, Small and Medium-scale Enterprises (MSMEs) here shut down operations voluntarily since Monday. Coimbatore District Small Industries Association (Codissia) president MV Ramesh Babu said almost 90 % of its members had stopped production. Only those who were catering to healthcare sector continued to run the units. A few organisations, including Codissia, had urged its members to stop production in an effort to control the spread of COVID-19. At the SIDCO Industrial Estate at Kurichi, 20 % of the units continued to operate. They had export orders or were vendors to exporting units or were supplying to the healthcare sector.

Pandemic-hit industries seek succour from govt | Coimbatore News

Coimbatore: As the second wave of Covid-19 pandemic and the lockdown imposed to contain its rapid spread have left businesses in lurch, members of the Coimbatore District Small Industries Association (Codissia) have urged the state government to take steps to help industries. Businessmen are weighed down by loans, taxes, electricity bill, building rent and other operating expenses as business activities have come to a halt. Only 30% of businesses, including foundries and exporters that are exempted from the lockdown, are functioning in the district, said Codissia president M V Ramesh Babu. “They are also struggling. In this situation, it would be of great help if the government could provide us additional loan up to 20% under emergency credit line guarantee scheme for half the interest rate at 6%,” he said.

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