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Covid-19 and MSMEs in Punjab: Challenges Ahead

In: Covid-19 Pandemic and Economic Development

Author

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  • Swati Mehta

    (Guru Nanak Dev University)

Abstract

Micro, small and medium scale enterprises (MSME) play an significant role in the economy of India as well as for Punjab. The MSMEs act as important node for backward and forward linkage in the local and global value-chains. Major industries of Punjab include transport equipment (automobile parts, bicycles), textiles (hosiery and readymade garments), and general-purpose and special purpose machinery (hand tools and machine tools), sports goods amongst others. With the nationwide lockout started in later week of March 2020 to curb the effect of deadly Covid-19, MSMEs across the nation were also hit hard. It is estimated that the industry of Punjab losses around Rs. 40,000 Cr for the days of total lockdown due to coronavirus. Government of India (GOI) announced several measures to revive the economy, with specific emphasis on MSMEs. New definition of MSMEs, specific credit availability measures amongst others were announced under the ‘stimulus package’ with the broader policy of making India self-reliant for global competition with a call for ‘Atamnirbhar Bharat’. The aim of the paper is to bring forth the challenges in the path of MSMEs in manufacturing sector of Punjab to restart, revive, survive and compete in the post-lockdown times.

Suggested Citation

  • Swati Mehta, 2021. "Covid-19 and MSMEs in Punjab: Challenges Ahead," Springer Books, in: Sukhpal Singh & Lakhwinder Singh & Kamal Vatta (ed.), Covid-19 Pandemic and Economic Development, pages 103-114, Springer.
    • Handle: RePEc:spr:sprchp:978-981-16-4442-9_9
    DOI: 10.1007/978-981-16-4442-9_9
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