Ludhiana: Worried over slowdown caused in the industry due to coronavirus and unprecedented losses, businessmen here are now eyeing modernisation of their plants and machinery, but at economical cost so that they are able to increase their profitability and reduce cost of production.
Taking a step in this direction, Punjab’s largest business association, Chamber of Industrial and Commercial Undertakings (CICU), which represents all sectors of industry, has now sought help of IIT-Ropar for helping industrialists in upgrading their infrastructure. Officials of the institute too have assured them of extending all kind of help to the industrialists for the purpose.
Giving more information, Upkar Singh Ahuja, president of CICU, said, “Micro, small and medium enterprises (MSME) industry in Ludhiana is passing through turbulent times due to drastic drop in sales and profit margins. Most of the units are operating with only 60-80% of raw material consumption, which is leading to low margins and further destabilising growth of MSMEs. A large number of units are sick and on the verge of closure and all these factors combined are demoralising our younger generation, which is hesitant to join business as they claim that they do not want to spoil their career in such low-profit businesses. Owing to this, they are migrating to other countries to build their future. The only way out for industry is to start making high-tech parts with better value addition and at lesser cost. This is the only way how MSMEs will be able to survive this shock.”
Ahuja added that, “In a step in the right direction CICU has planned to collaborate with institutes like IIT Ropar. Our delegation visited campus of the institute and we were impressed with the infrastructure and equipment available there. The research work being carried out there is highly impressive. So, after the visit we have discussed the possibilities of an official tie-up with this esteemed organisation. We spoke to the senior faculty and officials of the institute and sought help from department of mechanical engineering about developing innovative products and also extending help to industries for design improvement for MSMEs. IIT Ropar has also agreed to showcase its research projects in the upcoming expo being organised by us in Ludhiana from February 19-22.”
The delegation comprised Dr Joseph John from CMC Hospital and it met senior faculty members of the IIT, including its director Savit K Das, among others.