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Sustainability of Micro, Small and Medium Enterprises in India during Covid-19


Affiliations
1 Research Scholar, School of Humanities, ,KIIT Deemed to be University, Bhubaneswar, India
2 Associate Professor, School of Humanities, KIIT Deemed to University, Bhubaneswar, India
 

The novel Corona Pandemic has put the world trade and economy in a great crisis. No country is free from the jaws of the deadly virus. It not only causing huge forfeiture of human life but also inducing economic disaster, with a halt in production, a crumble in consumption and a magnified unreliability in stock exchanges. The Covid-19 has severely disrupted the global supply chain system. All the sectors like aviation, tourism, retail, capital markets, oil and particularly Micro, Small and Medium Enterprises (MSMEs) are the most affected with negative repercussion. In the global view, the small businesses are the most sufferers than the big ones as they are vulnerable with lesser resources to redesign to the new social change. The main purpose of this article is to study the present status of Micro, Small and Medium Enterprises (MSMEs) of India and its sustainability amid this pandemic. It will notably discuss the impacts of Covid-19 on this sector and the initiatives taken to regenerate this sector. The study will be based on reviewing the available literatures considering research papers, reports and policy documents. This article comes forward with applicable recommendations for MSMEs facing this epidemic in India.

Keywords

COVID19, Micro, Small and Medium Enterprises of India, Economic crisis, Pandemic, Government support.
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  • Sustainability of Micro, Small and Medium Enterprises in India during Covid-19

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Authors

Anasuya Barik
Research Scholar, School of Humanities, ,KIIT Deemed to be University, Bhubaneswar, India
Snigdha Tripathy
Associate Professor, School of Humanities, KIIT Deemed to University, Bhubaneswar, India

Abstract


The novel Corona Pandemic has put the world trade and economy in a great crisis. No country is free from the jaws of the deadly virus. It not only causing huge forfeiture of human life but also inducing economic disaster, with a halt in production, a crumble in consumption and a magnified unreliability in stock exchanges. The Covid-19 has severely disrupted the global supply chain system. All the sectors like aviation, tourism, retail, capital markets, oil and particularly Micro, Small and Medium Enterprises (MSMEs) are the most affected with negative repercussion. In the global view, the small businesses are the most sufferers than the big ones as they are vulnerable with lesser resources to redesign to the new social change. The main purpose of this article is to study the present status of Micro, Small and Medium Enterprises (MSMEs) of India and its sustainability amid this pandemic. It will notably discuss the impacts of Covid-19 on this sector and the initiatives taken to regenerate this sector. The study will be based on reviewing the available literatures considering research papers, reports and policy documents. This article comes forward with applicable recommendations for MSMEs facing this epidemic in India.

Keywords


COVID19, Micro, Small and Medium Enterprises of India, Economic crisis, Pandemic, Government support.

References





DOI: https://doi.org/10.23862/kiit-parikalpana%2F2022%2Fv18%2Fi1%2F212346