As a pivotal pillar of India's resilient economy, small businesses and MSMEs require prioritisation for their ability to foster demand, generate employment, and promote innovation, the MD & CEO-Metro Cash & Carry India and Chairperson, Retail & Internal Trade Committee, Ficci, writes
The government can look at increasing the threshold of loan under Credit Guarantee Fund Trust for micro and small enterprises to provide liquidity lines to small retailers
Image: Anushree Fadnavis / Reuters
Covid-19 has nudged thousands of MSMEs (micro, small and medium enterprises) to the edge of closure. Grappling with lockdowns, restrictions, liquidity crunch, and business continuity due to tepid demand, the sector has been severely stressed. As uncertainty looms with the emergence of more transmissible variants like Omicron, small businesses can only keep their hopes afloat for the situation to stay well under control. With narrowing revenue streams, it shall be a long road for recovery for the financially stressed sector.
Image: Adnan Abidi / Reuters