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Keywords

COVID-19, Lockdown, MSMEs, Indian Economy

Abstract

Small Industries are more vulnerable ones as it dealt a body blow because of Covid-19 and the resultant lockdown. It is difficult for them to survive without assistance. This is because, they are unable to cope up with the difficulties that are forced on them as their survival is difficult even in normal times but now they are dealing with something so unexpected. The significance of MSMEs sector in boosting Indian economy cannot be ignored. Unless we strengthen the MSME sector, it is very little that the economy will have to look forward to. They are reaching out to the government asking the rescue. The lockdown due to COVID-19 has brought MSME sector to its knees by halting the business which dried up the revenue. COVID-19 is of the giant disasters in the history which is devastatingly impacting on the global economy. It has taken the whole world into its grip, resulting tough times to global economy and people’s life. As India is a developing country, the lockdown majorly affected the manufacturing activities and the supply chain, because of the shutdown of airports and seaports and restrictions on imports and exports. This paper aims at studying the Impact of COVID-19 on Indian economy, especially on Indian MSMEs which are the life blood of Indian Economy and revival strategies for the impacted MSMEs.

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