MSME registration zooms at Shipyard

Hindustan Shipyard Limited which has seen a significant spurt in its order book over the last few years is making a concerted effort in engaging more closely with MSMEs.

HSL which is building 2 DSVs along with the mammoth 5 FSS for the Indian Navy is making sure that MSMEs too benefit from HSL’s growing order book. 

The shipyard under the leadership of Cmde Hemant Khatri, IN (Retd.) has seen a slew of new MSMEs come and register with the shipyard.

HSL’s MSME vendor base has zoomed more than four times i.e. from 130 in FY 20 to 564 in the recently ended fiscal FY24. ‘MSMEs form the backbone of any growing economy and are often considered to be a powerful engine for both economic activity and creating employment. 

Now that HSL’s order book is good we are making sure that MSMEs too derive benefit from our growth’ said Cmde Khatri speaking to Vizag Industrial Scan.

The shipyard’s procure- ment through GEM has also skyrocketed to Rs 530 crores in FY 24 from 0.016 crores in FY20, which again would have generated huge business for MSMEs across India.

With Keen focus on MSMEs, procurements from them has shown continual improvement i.e. from 158 Cr in FY 20 to 439 Cr in FY 24 while peaking during FY 23 to Rs 700 Cr.

‘Over the past 4 years, we have gone beyond our mandated sourcing of 25% from MSMEs and have been sourcing at an average of 40%’ said the CMD.