Honourable Smt. Nirmala Sitharaman ji,
Minister of Finance, India,

We are writing on behalf of all the Indigenous Office Furniture Manufacturers in an appeal for government support as we deal with Covid – 19 pandemic.
We, at Monarch Ergo are the largest Office Furniture Manufacturers in Telangana and one of the Top five players in India employing a workforce of around 800, catering to domestic and overseas office furniture market .
At the outset, we welcome and applaud the Government of India’s initiative on announcing the relief package worth Rs 1.70 lakh crore to help the nation's poor tackle the financial difficulties arising from Covid-19 outbreak.
Although we fully support the Government of India in its actions aimed at curbing the spread of COVID-19, government assistance to Indigenous Office Furniture Manufacturers is urgently needed to avert a crisis in the Office Furniture Manufacturing industry that will severely impact employment of thousands of workmen across India, the Indian Manufacturers and Indian economy , both in the short and long term.

In this context, we would like to submit the following points before your good selves:

1. We request you to kindly cover Manufacturing industries like us also whose work force is above 100 employees under the scheme for payment of PF for employees below salary of Rs.15,000 per month, in the Covid 19 Relief Package.

2. Another major area where we require your assistance is in making available funds from banks and financial institutions. Measures like lower interest rates, longer moratorium for term loan repayments, easier norms for enhancement and renewal of working capital limits, lenient on collateral security norms etc. will go a long way in boosting the health of the industries in these difficult circumstances.

3. Amidst Covid 19 Crisis, We anticipate as an office furniture manufacturing industry we will be facing a problem of delayed realisation of our bills and receivables, particularly from large corporate buyers and government organisations, leading to financial hardships and liquidity constraint.

As per the section 15 of the act, once MSMEs supply goods or services to clients, the procurer is obliged to release pay funds on or before the agreed date or within a period of 45 days.

In view of the current situation, we request notification from the government to incorporate the same amendment of Timely and guaranteed payment for all the companies ( irrespective of MSME status) to be covered under Sec 15, to help indigenous manufacturers address the issue of delayed payments / Fund flow during this crunch.

4. The current classification of MSME involves the amount of investment made by the enterprise on plant and machinery or equipment. We request the government to pass the Bill on classification of MSME based on the Annual Turnover, which would benefit all the Small & medium enterprises like us who have taken impetus from Make In India initiative.

5. As Indigenous manufacturers thriving on the spirit of Make In India Policy, we request the government to impose anti-dumping duty on Office Furniture imports to protect the Indian Manufacturers and retain employment of lakhs of workers who play a huge role in India’s growth story by manufacturing World Class products in India.

6. We also request the Government of India to devise a suitable Subsidy Scheme for protection of jobs and salary cuts to employees working in Indigenous Manufacturing Units.

Respected Ma’am, your involvement and strong support are imperative for the livelihood of thousands of employees and the survival of Indian Manufacturers who have helped build this great country. Only with your assistance in this time of need will we be able to continue to help India achieve its full future potential amidst the Covid -19 Pandemic.

Yours Truly

Kotesh Jagannathan , Managing Director, Monarch Ergo Private Limited

Paramesh Jagannathan, Executive Director, Monarch Ergo Private Limited