‘Need to create a balance between life and livelihood post curfew’
INDUSTRY & LOCKDOWN
THE CP fittings and bathrooms fittings industry has been facing multiple problems during the lockdown and strict government instructions have added to its woes. Umesh Jain, owner of Nath Sanito Corporation, established in 1976, says lowering the interest rates in coordination with the repo rate and reverse repo rate is the need of the hour. In an interview with Sanjiv Kumar Bakshi, he throws light on steps required to bring things back on track. Excerpts:
Lockdown is a challenge that can be converted into an opportunity, but the onus is on the government for the same. Otherwise, it is a challenge for MSMEs to survive and sustain. The opportunity can be utilised by setting up larger units and the supporting ancillary ones. The government needs to emulate steps taken by Japan and promote the ‘Make in India’ campaign.
Umesh Jain, owner of Nath Sanito Corporation
How has lockdown affected your work?
There is no sale, order and income due to the lockdown. The government has added to the woes of the industry by issuing orders to ensure full wages to labourers. The issue of paying salaries could have been sorted out easily by the industry and labourers mutually as no industry can afford to lose its skilled labourers. Since industries have to resume their work after the lockdown, all issues could have been resolved with mutual understanding.
Do you expect resumption of work in near future?
Resumption of work in near future is risky, but a balance between life and livelihood is needed. I feel though the number of Covid-19 cases may increase after the lockdown, there should be some wayout to come out of it as how long things can stay like this. Following strict guidelines to resume the work like keeping labourers inside the factory, arranging food and other essentials or their day-to-day transportation is not possible. Most of the units don’t even have space for the stay of labourers.
Has any major order or investment been cancelled or deferred?
Being a domestic industry, our orders have been deferred as there is no work. We call up our dealers regularly to access the situation.
How are you dealing with issue of paying salaries to workers?
With no work, there is zero income. We are using our personal savings and bank credit limits for our families and labourers. Using bank limits is further increasing problems as it will lead to more liabilities and we will need to pay more interests.
Is the lockdown an opportunity or a challenge?
It is a challenge that can be converted into an opportunity, but the onus is on the government for the same. Otherwise, it is a challenge for MSMEs to survive and sustain. The opportunity can be utilised by setting up larger units and the supporting ancillary units. With bitterness increasing among the world for China, the government needs to emulate steps taken by Japan and promote the ‘Make in India’ campaign for inviting the industries from China to India.
What are your expectations from the government?
The government has to take steps to support the industry in finding a wayout for creating a balance between life and livelihood. Interest rates on loans and credit limits should be lowered. The rate of interest should be coordinated with the repo rate and the reverse repo rate.
