Coronavirus Impact: All India manufacturers’ organisation urges govt to provide support package to MSMEs

AIMO has urged the government to provide support packages and incentives to the micro, small and medium enterprises.

msme coronavirus

As per reports, the all India Manufactures’ Organisation (AIMO) has urged the government to provide support packages and incentives to the micro, small and medium enterprises (MSMEs) sector affected by the lockdown due to the Covid-19 pandemic.

Shrikant Dalmia, Zonal Vice-President West, AIMO said, “Several sectors such as aviation, hospitality, consumer durables are among the worst hit by this epidemic. All the MSMEs/self-employed individuals/entrepreneurs associated or whose revenues depend either directly or indirectly on these sectors have been on the verge of a shutdown situation.”

He further stated that work from home (WFH) is applicable to less than 8 per cent of the core MSME and services sector. WFH has resulted in over 63 per cent drop in productivity in the services industry. The sector has seen a mass migration of labour to the the villages, he added.

On the same, Sushil Vyas, Secretary, AIMO said, as per the reports from our members and clusters of the MSME sector over the past few weeks, over 60-odd million MSMEs are in real danger due to market issues with over 92 per cent drop in domestic sales compared to the same time last year. There is a 100 per cent drop in export sales compared to the same time last year,” he said.

In fact, AIMO has also requested the Finance Minister to waive bank interest the way it has been done for farmers.

“Instruct banks not to make entrepreneurs’ NPAs for not paying interest till December 31, 2020. If some banks, airlines and corporates are bailed out, even certain MSMEs should be bailed out, considering that MSMEs employ over 121 million people in the country,” said Vyas.


Coronavirus sanitizer industry

Covid-19 Impact: Chemical manufacturers brace for drop in revenues

medical kits

MSME ministry: Inform govt if you are dealing with products required to fight Covid-19


COVID-19: Companies fresh start & LLP settlement scheme to provide relief

commerce ministry

Lockdown Impact: Commerce ministry provides relaxations in filing compliance report to SEZs


“Nothing in our lifetimes has prepared us for a situation like this”: M. Srinivas Rao, CEO, Global Alliance for Mass Entrepreneurship

coronavirus lockdown

Cabinet Secretary: No plan of extending coronavirus lockdown

invest india

Over 1.75 Lakh people visit business immunity platform website in a week

coronavirus impact

COVID-19 Impact: Renewable energy projects get extension; to be treated under ‘Force Majeure’

Coronavirus lockdown: Indian retail sector stares at loss of over 20 lakh jobs


Coronavirus lockdown: 60% MSMEs may get wiped out; real estate looks at nearly $1 billion business loss; and more

RBI repo rate cut

RBI cuts repo rate by 75 bps, 3-month pause on EMIs to offset Coronavirus impact

coronavirus loan msme

Coronavirus economic impact: CII sets up a fund for MSMEs