Last year has seen massive disruptions across various sectors due to the impact of the COVID pandemic. MSMEs, who form the backbone of Indian economy have been severely affected and in a myriad ways like Liquidity – the immediate crisis; Making survival decisions based on limited information and unknowns; uncertainty around externalities (e.g. suppliers, lenders and shareholders etc) and a disrupted, restricted workforce that is fearful, remote and stressed.
The Central and State Governments have launched multiple schemes, incentive and stimulus packages for helping the industry in their revival process over the past many months. While these schemes have been well thought out, researched and articulated, MSMEs are repeatedly worried about getting the right information and on the nuances of the application, data required etc.
With this background, CII has launched a ‘Survival Kit for the Indian Industry’ – a ‘first of its kind’ initiative in the country. The objective of this initiative is to provide knowledge on various Central and State Government schemes / policies that are announced on a regular basis towards supporting industry during these uncertain times.