Industry and Lockdown: 'New strategies will have to be framed to survive in market'
With no support from govt, it will be tough for sports industry to remain in competition: Rajesh Mayor
Rajesh Mayor, managing director, Mayor and Company, Jalandhar, talks about challenges being faced by the sports goods industry and MSMEs in the current scenario. In an interview withAjay Joshi, he throws light on steps being taken to cope up with the issues arose due to the Covid-19 lockdown. Excerpts…
How has lockdown impacted your business?
Apart from various sports organisations or groups, schools and colleges buy equipment from us. As all educational institutions have been lying shut since the Covid-19 outbreak, the demand for sports equipment has sharply declined, leading to a financial loss. At present, there is zero business. Despite negligible supplies, we have to make statutory payments and PF settlements.
How will the sports business revive after the lockdown?
We don’t see any hope in near future. Our business will likely to see a turnaround after a year or so. However, it is also uncertain as customers will first purchase essential items. Looking at termination of sports events nationally and internationally, we cannot expect demands in a bulk.
What are your plans to resume operations?
The business will resume only after devising new strategies. So, we are looking for different avenues and trying to get customers. After framing out plans with marketing teams, we are focusing on taking concrete steps to increase the consumers’ demand. Moreover, we have now learnt about more technology-driven avenues that will help increase sales and fetch more customers.
How are you dealing with a shortage of labourers?
Amid the lockdown, we have now realised that labourers are the backbone of any industry. We are now left with only 50-60 per cent of our labour. All our trained labourers have gone to their native places. We are in a mode to increase the labour force. We may have to increase their wages as well.
How have you managed to pay the salaries to your workers?
We never let salary become an issue. Salaries were paid to the workers in advance. We have also helped them with other things as well.
Do you consider the current crisis as a challenge or an opportunity?
As we faced this unexpected loss, the lockdown period will always be remembered as the biggest crisis. We are seeing it as a challenge to re-establish our firm. In fact, all companies are jostling up with the same. New strategies will have to be framed to survive in the market. Besides, with more and more companies re-establishing in other Asian countries, we will have to maintain our pace. With no support from the government, it will be tough to remain in the competition.
What are your expectations from the government?
We believe that the government should give relaxations in bank loans and provide a financial package for MSMEs. We want that the government should support workers and waive statutory payments when the industry is in loss due to any national crisis.
