Credit and Finance for MSMEs: The MSME sector in India accounts for four-fifths of India’s employment sector, 40 per cent of the 6.3 crore Indian MSMEs are involved in exports, and it contributes a whopping 30 per cent to the country’s GDP. Despite showing such promising statistics and importance for the growth of the Indian economy, the sector is the most vulnerable to factors that disrupt cash flow, growth, and ease of doing business.
The pandemic has worsened the state for these Indian MSMEs that were already grappling with circumstances that emerged post demonetization and a subsequent cash flow crunch as the sector majorly dealt in cash. Most Indian businesses are still feeling the prolonged Covid effects as most B2B companies are reeling under the pressure of delayed payments. The following factors are the reasons why India’s poor payment culture has led to impact MSMEs:
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The pandemic has worsened the state for these Indian MSMEs that were already grappling with circumstances that emerged post demonetization and a subsequent cash flow crunch as the sector majorly dealt in cash. Most Indian businesses are still feeling the prolonged Covid effects as most B2B companies are reeling under the pressure of delayed payments. The following factors are the reasons why India’s poor payment culture has led to impact MSMEs:
Read more
The Indian Digital Currency wants to put an end to Cash
