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2014-06-10

MSMEs in east India performing well: CRISIL

The performance of 393 MSMEs in Eastern India has been analysed by CRISIL. According to CRISIL, the average sales of these MSMEs increased to Rs 1,491. 11 lakh in 2012-13 from Rs 1,007.59 lakh in 2010-11 (refers to financial year, April 1 to March 31). The compound annual growth rate (CAGR) of 21.65 per cent is on a par with the growth rate of 5,890 CRISIL-rated MSMEs across India, which in turn showed a CAGR of 22.02 per cent, with average sales growing to Rs 2,243.43 lakh in 2012-13 from Rs 1,506.83 lakh in 2010-11.

The performance of 393 MSMEs in Eastern India has been analysed by CRISIL. According to CRISIL, the average sales of these MSMEs increased to Rs 1,491. 11 lakh in 2012-13 from Rs 1,007.59 lakh in 2010-11 (refers to financial year, April 1 to March 31). The compound annual growth rate (CAGR) of 21.65 per cent is on a par with the growth rate of 5,890 CRISIL-rated MSMEs across India, which in turn showed a CAGR of 22.02 per cent, with average sales growing to Rs 2,243.43 lakh in 2012-13 from Rs 1,506.83 lakh in 2010-11.

 

The key drivers for growth in east India are the FMCGs and agro-processing sectors, which showed a growth rate of 27 per cent and 26 per cent respectively in the analysis period, outpacing the 22.02 per cent growth of MSMEs across India as well as the 21.65 per cent growth of their peers across various sectors in east India.

 

The other main performers from east India include textiles (20 per cent), steel and electrical goods (15 per cent each), and engineering/capital goods (13 per cent). The availability of affordable credit and a pro-MSME government policy focused on this region remain critical for the area's MSMEs to maintain their growth momentum.

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