MUMBAI : While easy access to affordable credit is an important factor in helping small businesses stay afloat, any improvement in their prospects will not happen till consumer demand picks up.
Speakers at the Mint’s Pivot or Perish webinar on the MSME sector said the Centre must step in to ensure increased spending for demand to return.“Speaking for the auto components sector, our three big challenges are cash, labour and raw material," Deepak Jain, president, Automotive Component Manufacturers Association, said. “There are green shoots we can see where the government has given benefits.
Like in the agriculture space, where the government has done a direct benefits transfer to farmers and due to that covid-19’s impact is less in the rural.