India’s small businesses are facing a “mass-extinction event” in the wake of Covid-19

Small and medium-sized businesses have been at the center of the Narendra Modi government’s plans to revive the Indian economy from the Covid-19-triggered slump. Yet, experts believe, not much has changed for such firms and the pandemic could prove to be a “mass-extinction event” for them.

Only a third of Indian medium and small enterprises (MSME) have received loans under the new government credit guarantee scheme launched as part of the Covid-19 relief package, according to a survey (pdf) by CARE Ratings.

The survey was conducted in June and July and covered 345 MSMEs from various sectors, including manufacturing and services.

admin

Leave a Reply

Your email address will not be published. Required fields are marked *

Next Post

A Cultural Revolution 2.0 is sweeping through Hong Kong’s offices and schools

Tue Jul 28 , 2020
FROM OUR OBSESSION Because China Even small changes in China have global effects. Like many of his colleagues in the Hong Kong civil service, V. has a calendar pinned up in his office cubicle. But his stands out: it features a slogan supporting the city’s pro-democracy protest movement. “My calendar […]