MUMBAI: Several micro and small auto component suppliers, categorized as tier 2 or 3 or even smaller in the supply chain, fear shutdowns as liabilities continue to mount and factories operate at minimal capacities.

Mounting liabilities for these firms mainly include wages, inventory costs, unutilized production capacities, interest on loans and other fixed overheads, several industry executives told Mint. "As the working capital dries up, many MSMEs may shutdown in the coming months.

Many small tool rooms, which function like the MSMEs and are critical link in the value chain, are also struggling for survival," said Nomura Research’s Ashim Sharma.

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