Ludhiana MSME protest against delay in payments
The MSMEs into garment manufacturing in Ludhiana have formed an association named the MSME Garment Manufacturer’s Association of Ludhiana to protest the delay in payments by big retail chains in the country.
Amit Jain the owner of Amit Jain garment said that it happens that the retailers procure goods from them on time but their payments do not reach them on time. This affects the business because they require the money to conduct business.
Jatinder Sethi said that Delay in payment from retailers is not a recent trend. The retailers get their sales and earn their money but it is the small players that suffer.
The retail sector is the fastest growing industrial sector in the country and the negative developments are hurting the MSME garment maker even more and especially in Ludhiana. The garment units in the city are disturbed by the recession and the delay in payment is affecting them. Some garment makers are trying to reduce their operational costs and increase their margins by getting energy efficient machinery.
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