‘Govt must help industry with monetary support & easy loans’

SUKHDEV RAJ , MD, Victor Forgings, Jalandhar, believes it will take a herculean effort to keep industry running amid the Covid-19 pandemic and it can’t be done without the help of the government. The 85-year-old industrialist, who has seen the industry sail through many turbulent times in the past decades, believes government help and reduced interest rates will go a long way in tackling the crisis. We didn’t see such times even during the Indo-Pakistan war. In an interview with Aparna Banerji, Sukhdev Raj shares how a little help from the government can solve the labour crisis the industry has been facing since the lockdown. Excerpts:

What is the impact of the lockdown on the hand tools industry?

The industry has largely remained closed. We face a problem in every sector. All the workers have left and we do not know how to call them back to join work. Many of our orders and consignments have been cancelled as clients are facing problems. A majority of orders have been cancelled. Owing to the lack of orders and workers, industry has suffered a huge setback.

Which area is giving you maximum problem?

Undoubtedly, the shortage of workers is giving us pain. We had about 300 to 350 workers with us, out of which only 70 to 75 have left. We have been making efforts to get them back but they say no trains are plying. Labourers are unwilling to return in cars or other vehicles. Unless we get an adequate number of labourers, we will not be in a position to get the industry functional.

Some industries are facing difficulty in getting raw material. Is that the case with hand too industry?

We don’t face much trouble in that area. Steel can be readily available through many factories in the state. But our major problems are of workers and finances.

What are the problems being faced in terms of finance?

While on the one hand, our orders have drastically reduced, on the other, the interest rates are too high. Already, amidst the lockdown, the hefty interest rates put an additional burden on us.

What kind of help do you think the government can provide to industry?

The government can help with monetary support and provide easy loans to us to keep industry up and running. Once things return to normal, we can repay these loans. The interest rates should also be reduced. That will be a huge help to the industry.

How long do you think such a crisis will persist?

It is very difficult to say right now. Only time will tell how long it will take for things to return to normal. In the meantime, we hope for monetary support amidst the crunch.