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CSR initiatives should also include acquiring and merging units that are closed down
Vishnu Mohan | 30 Jun 2014

There have been reports that around 25% of the SMEs (small and medium enterprises) are not in operation. If any industry, once established, is forced to close down, for whatever reasons, besides having many repercussions, one section of the population does get affected and they are known as working class.

It is generally seen, that wages are not much in SMEs and also they employ workers and staff in a manner basing the simplest ways of hire and fire. But the fact remains that in running SME workers are assured of a salary once a month depending upon the work they perform. This helps him and his family to keep going on in life. Therefore, closing down of an existing unit does add big pressure on the life of a worker and his family.

Debates should be initiated to encourage successful big corporate houses to include in the list of CSR (Corporate Social Responsibility) to acquire industries such as above, purely on humanitarian consideration to save the workers from becoming jobless.

Such mergers and acquisitions can also prove to be beneficial for corporate houses in the long run. Therefore, as part of CSR initiatives, if a good percentage of the above 25% SMEs and MSEs are allowed to reopen, such a move would give a nice economic push for the country.