Industry hopeful about opening of markets

Aurangabad, July 9:

Entrepreneurs in Aurangabad have been cautious about increasing the production capacity as markets have not opened even though the economy is slowly coming on track. Meanwhile, production capacity of industries have remained constant at 70 per cent due to reduction in new orders.

The industry had gained momentum in September-October after the lockdown last year. The city's economic cycle was getting back on track after Diwali. The industry had to face a lockdown like situation during the second wave as markets were closed. As a result, the production capacity of industries declined by 40-50 per cent. The unlock was announced on June 7 last month. However, as per the order of the administration, restrictions were imposed on the markets. Since the markets are open for a limited time, there is no demand for manufactured goods. The supply chain has been disrupted. As a result, the automobile industry in Aurangabad is facing a crisis. Therefore, the industry has continued the production process in a limited manner. At present, the production capacity of industries is stable at 70 per cent. Currently, the industry is facing a shortage of skilled workers. The number of migrant workers has remained low. Entrepreneurs have expressed that if a decision is taken to lift restrictions on markets on the backdrop of upcoming Ganpati, Dussehra and Diwali festivals, industries will gain momentum.

Biggest blow to automobile industry

CII's Marathwada zonal president Raman Ajgaonkar said that if market restrictions are lifted, citizens will come for shopping and goods will be sold. The supply chain has been disrupted. Orders have remained constant at 60 to 70 per cent. Even raw materials are not available on time. Industries are finding their way out of many difficulties. The automobile industry has been hit the hardest by market restrictions.