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2010-12-16

Crisil rates Bengal best MSME performer

A recent study by credit rating agency, CRISIL, has revealed that in Eastern India, the state is the best performer in terms of micro, small and medium enterprises (MSMEs).Moreover, it hosts the maxim

Crisil rates Bengal best MSME performer

A recent study by credit rating agency, CRISIL, has revealed that in Eastern India, the state is the best performer in terms of micro, small and medium enterprises (MSMEs).Moreover, it hosts the maximum number of MSMEs in the region. The study, conducted among 10,000 MSMEs, compares the performance of enterprises in three key areas — business strength, management competence, and financial soundness.

An analysis of entities engaged in the steel and steel-related products and engineering industry said, “West Bengal stand out for their performance in business strength and management competence, whereas there are areas of improvement on parameters pertaining to financial performance.”

It said that MSMEs in West Bengal, followed by Jharkhand, lead the eastern region of the country in terms of business strength. CRISIL has been rating MSMEs since 2005, and has assigned more than 16,000 ratings so far. CRISIL currently rates more than 700 new enterprises on an average, each month. These enterprises are located across the country, and vary in constitution, size, and industry.

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