In a developing country like India, MSMEs are the backbone of the economy.
The MSME sector contributes to 45% of India’s Total Industrial Employment, 50% of India’s Total Exports and 95% of all industrial units of the country and more than 6000 types of products are manufactured in these industries
Since March of this year, with COVID-19 spread and the nationwide lockdown, MSMEs are facing severe stress. The reverse migration of millions of people, who are at the core of this sector was an added blow to an already struggling sector.
To understand more about the role of MSMEs in Indian economy and how the COVID-19 pandemic has impacted the sector Kunika Balhotra, Research and Communications Officer for Suno India, spoke to Amit Basole, Associate Professor of Economics at Azim Premji University in Bangalore in this episode of our mini-series, Indian Economy Explained.
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