Economic conditions of machinery and equipment industry in India: Prospects, issues and challenges.

Abstract

In spite of all the development measures taken by the Government of India, financing continues to be an area of concern for MSMEs even today to expand and stay competitive. In addition to this, increasing cost of capital, collateral requirements and limited access to equity markets increase their woes. Implementation of proper policy measures and actions by the government will provide a huge potential for economic development and generation of employment. In our study, we are planning to focus on precision tool industry with similar set of challenges and opportunities. Apart from this, there are certain problems and challenges that are unique to this industry which needs to study in detail and a roadmap should be charted out for its future development.