West Bengal leads East India in MSME ratings: CRISIL
Kolkata, December 15, 2010:
West Bengal has the maximum number of CRISIL-rated micro, small, and medium enterprises (MSMEs) in East India, as indicated by a study released by CRISIL Ratings at the MSME CEO Conference in Kolkata (West Bengal) on December 15, 2010.
The study compares the performance of enterprises in three key areas: business strength, management competence, and financial soundness. The findings highlight that while MSMEs in West Bengal enjoy a strong position in terms of business strength and management competence, the financial performances of these enterprises have scope for further improvement. Steel and steel products and engineering are the dominant industries in East India, and that enterprises in West Bengal stand out for their stellar performance in business strength and management competence in these industries.
The state-wise analysis of East India brings to light several interesting and positive facts about the industrial landscape of the states in the region. The study indicates that MSMEs in West Bengal, followed by Jharkhand, lead the eastern region of the country in terms of business strength. On financial soundness, Chhattisgarh emerges as the leader, with West Bengal in second position.
The Kolkata conference was organised by CRISIL, India's leading Ratings, Research, Risk and Policy Advisory Company, for CEOs of MSMEs in the city. More than 100 entrepreneurs from Kolkata and nearby industrial clusters participated in the event. The conference provided an interactive forum for entrepreneurs to learn about optimal practices expected of them. The experts from several industries including banking and finance, and government sectors shared their insights.
Speaking on the occasion, Mr. Yogesh Dixit, Head, CRISIL Ratings, said, “Kolkata is an important industrial hub in eastern India, and therefore, a key market where industry best practices need to be highlighted. This conference, planned as part of CRISIL’s MSME Knowledge Series initiative, facilitates sharing of CRISIL’s insights with entrepreneurs, bankers, and other stakeholders in the MSME sector.”
CRISIL has been rating MSMEs since 2005, and has assigned more than 16,000 ratings so far. It currently rates more than 700 new enterprises on an average, each month. These enterprises are located across the country, and vary in constitution, size, and industry.
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