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In an interview with Local 18, Kumar shared his entrepreneurial journey.
Kundan Kumar from Sikariya village graduated in 2010 and spent the next 6-7 years trying to find a job but without success.
A local entrepreneur in Jehanabad district of Bihar vividly illustrates the adage “where there is a will, there is a way”. Kundan Kumar from Sikariya village graduated in 2010 and spent the next 6-7 years trying to find a job but without success. Kumar chose to forge his own path and instead embarked on a business venture.
In 2020, Kumar took a loan of Rs 25 lakh from the Prime Minister's Employment Generation Program (PMEGP) to start his paver business. Today, his annual turnover is between Rs 800 and Rs 10 lakh. After repaying the initial loan, Kumar received an additional Rs 1 crore from the government to expand the business. His business now employs 10 to 15 people.
In an interview with Local 18, Kumar shared his entrepreneurial journey. “I chose to start a business rather than find a job because I believe there is less competition to create jobs for others,” he explains. Despite the challenges posed by the COVID-19 pandemic, Kumar's business continues to thrive, producing 3,000 to 4,000 paver blocks per day, supplying the entire Jehanabad area.
Kumar highlighted the ease of obtaining a loan through the PMEGP scheme, provided that all documents are in order. He advised aspiring entrepreneurs to consult the Ministry of Industries and General Managers as there are around 150 types of businesses that can get loans, with the minimum eligibility requirement being level 12.
Looking back on his journey, Kumar noted the significant impact of the scheme: “I spent a year and a half seeking a second loan, fulfilled all the conditions and got Rs 1 crore, which was the first among five districts. A rare achievement. Interest rate is 12% and there is a 15% subsidy.
Kumar's paver blocks are made from ballast dust and help prevent slippery surfaces, providing a practical solution for road construction and paving. His persistence through tough times has paid off and he is now using the new loan to further expand his manufacturing unit.
Kumar hopes his success will inspire others in Bihar, noting that while many people have benefited from PMEGP, Jehanabad has not seen such utilization for 15 years.
