- Enhanced cooperation and team efficiency will result in improving productivity
- Market will take 3-6 months to recover and come in a commanding position
- Only timely implementation of schemes and policy will aid the ailing small scale industries
While Covid-19 may not have the scale of pandemics of the past (as of date), the economic crisis has done more damage to people than the disease itself and will continue to affect. The economic impact of the pandemic in India has been largely disruptive. Under the complete lockdown, less than a quarter of India’s economic movement was functional.
It’s a high responsive matter to know about the functioning of manufacturing industries during times like these and still endeavoring to fulfill the needs of people by constant efforts amid the lockdown. In a recent interview with Laxminarayan Hegde, proprietor of Hedge Precision Engineering Works, Pune, Machine Maker was apprised of the grave situation, latest perspectives on the outbreak, the twin threats to lives and livelihoods, and how organizations can prepare for the New Normal.
Impact of Lockdown
Hegde stated, “We have not been functioning at all. We are basically a machine shop and being a machine shop, only if the machines are working then there will be progression, otherwise surely not!! Moreover, we need operators, supervisors, and other heads too but due to lockdown first and then the migration, there is of workforce. This is not an industry that can work from home. Deliveries have also been postponed during this lockdown.”
Post-Market Recovery
Hedge shares a view that recovery of the market depends will take 3-6 months minimum. After 6 months businesses can hope for a better future and coming in command. “Further if I talk about import and export, then precisely every field including the engineering field too is frustrated with China. So, for this satisfactory reason, import and export will be canceled from china and only happen from India which will surely result in a better market,” he said.
Need of the Hour
The primary focus will be on improving the productivity, striving best to improve the work efficiency. Workers have also realized what it means to stay at home. Complete cooperation and team efficiency will also be taken care of. An increase in sales and marketing is also an add-on point in the priority list to work on, Hedge mentioned.
It is their moral responsibility to provide safety measures to all their employees as they are the strength of any company. An employee’s well being is most imperative for us.
Export Outlook
Further, on talking about exports, Hedge illustrated, “Our import-export has been going on for more than the last 20 years or so in short batches. But what I believe now for the future is that we expect even far better export. The USA and other countries will definitely like to buy things from India now. It’s a matter of profound satisfaction that we have already started getting queries.
Government’s Role
Whether it’s about small scale industries or medium scale industries, there are certain incentives mostly given by the government but the only concern is timely implementation of it, then only it will result in a great profound help. Days back the government cleared all the income tax refunds which was at the right time and badly needed by almost every industry though.
For more details visit, http://www.hegdeprecision.com/
