Micro, Small and Medium Enterprises (MSME) are the backbone of any country. In India, MSME is the economic engine. Constituting an estimated 45 lakh enterprises in India, MSME contributes 30 per cent income of the Gross Domestic Product (GDP). Forty-eight per cent of our exports are from MSME. When profitability was already reeling under the pressures of significant revenue decline in Q42020, matters worsened. The already low manufacturing capacity utilisation faced an unprecedented closure compounding demand-side woes with the supply-side shock. The Covid-19 pandemic gave rise to difficult circumstances to the extent that a majority were staring at insolvency. Within months of the epidemic, cash, labour, and raw materials turned to be the focal point as they proved to be the biggest roadblocks for staging a recovery, let alone pursue growth.
Market Analysis
Bu hikaye Auto Components India dergisinin September 2020 sayısından alınmıştır.
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Bu hikaye Auto Components India dergisinin September 2020 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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