Giving Them Credit

The sector will need some more hand-holding as it strains to recover from the effects of Covid-19 and the Ukraine war

- M.G. Arun

Narayan Rane, Minister of MSMES

IF THERE WAS ONE sector that took the hardest hit from Covid-19, it was the Micro, Small and Medium Enterprises (MSMEs). The backbone of the Indian economy, contributing 30 per cent to the GDP and employing over 113 million people, it reportedly saw thousands of units shutting down. Conscious of their plight, thanks to the large-scale migration of out-of-work people back to their homes, the Central government had to prioritise easing MSME woes, helping them financially, besides focusing on skill training and technology upgradation.