Manufacturers Body: MSMEs are Losing 40000 Cr Everyday Due to COVID Lockdown

The All India Manufacturers’ Organisation (AIMO) has said that the loss of revenue for the Micro Small and Medium Enterprises (MSMEs) is close to Rs 40,000 crore a day.

AIMO national general-secretary Kenny Ramanand said that all the MSMEs, self-employed individuals and entrepreneurs associated with or whose revenues depend either directly or indirectly on these sectors are on the “verge of a shutdown situation,”

''The government has to provide support packages, incentives and measures to the MSMEs to avoid a shutdown of India,'' he added.

Several sectors like automobile, aviation, hospitality, apparel, consumer durables, electronics, hotels, tourism, restaurants & bars, entertainment, airlines, BPOs, seafood & livestock, construction & real estate and transportation are among the worst hit by this epidemic, Ramanand said.

''There are sectors that are based purely on exports and orders will be cancelled if not supplied on time,'' he added.

AIMO has also requested the government to allow the working class to return to their livelihoods, by introducing a citizen risk assessment module to allow 55.1% of the population of India to start working immediately to avoid further loss to the economy.