Chennai: Eight per cent of self-employed and micro/small businesses (SMBs) from across India are insecture about the future following Covid 1 and 2 lockdowns, Consortium of Indian Associations (CIA) has sad.
‘While everyone is aware that the 63 million micro, small enterprises (MSEs) and 40 million self-employed individuals in the country form the backbone of India’s economy, yet these enterprises have been going through tough times since 2016 onwards and find it extremely difficult to recover from the shocks of demonitisation, GST introduction, economy slowdown and finally with the Covid-1 and 2 induced lockdowns over the last 18 months’, CIA said in its latest report.
CIA convenor K E Raghunathan said, ‘Over the past 18 months, CIA has provided vital suggestions and modifications required on several initiatives taken by the Central and State governments for the benefit of MSMEs.Unfortunately, many problems faced by micro and small enterprises have become severe under present situation, threatening their survival.’