MSMEs facing existential crisis says KASSIA

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The small scale trade, which is susceptible to shocks, has the least capability to soak up them, and the pandemic has precipitated irreparable harm in numerous instances, stated KASSIA (Karnataka Small Scale Industries Affiliation).

“It’s our tough estimate that about 20% could by no means be capable to restart because of the disruptions attributable to the pandemic,” stated Ok. Arasappa, president, KASSIA.

He added that that is primarily as a result of compounding of the already existent financial slowdown by the COVID-19 pandemic which has uprooted staff and manufacturing techniques in factories.

“We’re immediately confronted with damaged provide chains, cancelled orders, over-extended funds, lack of jobs and livelihood, lack of markets, and dried up monetary sources posing a critical menace to our very existence,” stated Arasappa.

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