MSME trade body pegs loss to sector at Rs 40,000-crore per day

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Published: April 24, 2020 2:01 AM

AIMO has requested the government to look at protecting the elders and senior citizens of the country and allow the working class to return to their livelihoods, by introducing a citizen risk assessment module.

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

The All India Manufacturers’ Organisation, (AIMO) an apex trade body focused on the interests of the MSME sector, said on Thursday that the loss of revenue for the industry is close to Rs 40,000 crore a day and that it has already lost Rs 12 lakh crore by closing them.

There are sectors that are based purely on exports and orders will be cancelled if not supplied on time. AIMO national general-secretary Kenny Ramanand said, “The government will need to provide support packages, incentives and measures to the MSMEs to avoid a shutdown of India.”

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. 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,” Ramanand said.

AIMO has requested the government to look at protecting the elders and senior citizens of the country and 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, he said.

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