Skip to navigationSkip to content
India-MSMEs-economic slowdown
REUTERS/Rupak De Chowdhuri
Caught in a deep slowdown.
TESTING TIMES

India’s small businesses are facing a “mass-extinction event” in the wake of Covid-19

Prathamesh Mulye
Member exclusive by Prathamesh Mulye

Small and medium-sized businesses have been at the center of the Narendra Modi government’s plans to revive the Indian economy from the Covid-19-triggered slump. Yet, experts believe, not much has changed for such firms and the pandemic could prove to be a “mass-extinction event” for them.

Only a third of Indian medium and small enterprises (MSME) have received loans under the new government credit guarantee scheme launched as part of the Covid-19 relief package, according to a survey (pdf) by CARE Ratings.

The survey was conducted in June and July and covered 345 MSMEs from various sectors, including manufacturing and services.

You are reading a Quartz member exclusive.

Become a member to keep reading this story and the rest of our expert analyses of the changing global economy.

Why we think you’ll like it:

こちらは英語版への登録ページです。
Quartz Japanへの登録をご希望の方はこちらから。