Mysuru, Nov 3: The Karnataka Small Scale Industries Association (KASSIA) has said that the Small and Medium Enterprises (SMEs) in Karnataka are facing difficult situation due to the economic slowdown.
Speaking to newsmen here on Saturday, KASSIA President R Raju said that severe slowdown in the Automobile, Textiles and Garments, and other manufacturing segments has severely hit the potential of the SMEs to sustain.
Stating that there are about 6 lakh SMEs in Karnataka, he said many units have seen a fall in business ranging from 30 per cent to 70 per cent. The number of shifts operated has been curtailed, contract and temporary employees have been removed due to sharp decline in the income.
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