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Recession hits Udayambag

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Just ten months ago, small scale industries, mostly ancillary units, in industrial estate Udayambag were busy meeting the orders from other industries. But now most of them have either stopped or working with skeletal staff, all because of global economic recession.

A large number of industries have decided to cut down the number of employees by at least 50 per cent of their staff and send some of them on long leave till the situation improved.

Units here mainly cater to orders from automobile sector from Pune, Mumbai and Bangalore. But since March 2008, there has been a steady decline in the orders and November was worst with very few orders. Only fabrication and casting works were on and that too to meet the requirements of the Belgaum City. With irregular supply of power it’s impossible to even complete this small quantity.

Source: Deccan Herald

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