Financial Daily from THE HINDU group of publications
Thursday, Apr 21, 2005
Financial Daily from THE HINDU group of publications Thursday, Apr 21, 2005 |
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Industry & Economy
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SSI Commonwealth team visits Chennai SMEs M. Ramesh
Chennai , April 20 A TEAM of visitors from 22 Commonwealth countries, which is in Chennai to participate in the Second Commonwealth-India Small Business Competitiveness Development Programme, visited two medium-sized companies, Inca Hammock Manufacturing & Export (P) Ltd and Super Auto Forge Ltd. The programme is an initiative of the Commonwealth Secretariat, aimed at sharing expertise in development of small and medium enterprises. The visit to the SME units is meant to expose the visitors to some of the successful units in India, said Mr Ram Venuprasad, Adviser (Enterprise), Special Advisory Services Division, Commonwealth Secretariat. The Rs 23-crore Inca Hammocks exports some 300 container-loads of hammocks to the US and Europe. According to the Managing Director, Mr D.S. Bhat, Inca is now diversifying into garden furniture. The Inca Chairman, Mr S.N. Bhat, told the visitors that the company could produce 2,000 hammocks a day and is still not able to meet the demand. The company broke into the export markets using a Rs 5-lakh grant from the Exim Bank of India. The grant was meant for funding Inca officials' visit to the US and US buyers' visit to Inca's plant, Mr K. Muthukumaran, General Manager, Exim Bank, told Business Line. The Rs 160-crore Super Auto Forge, another unit funded by the Exim Bank of India, produces cold forged auto components. More than Rs 100 crore of the turnover comes from exports. The company recently put up a manufacturing unit in Kolomna, Russia.
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