The Socio-Economic Impact of the Pandemic on the Micro-, Small-, and Medium-Scale Enterprises

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Author(s): Ca Shilpa Vasant Bhide (Department of Management Sciences, Savitribai Phule Pune University, India)
Copyright: 2023
Pages: 15
Source title: Changing World Economic Order in the Post-Pandemic Period
Source Author(s)/Editor(s): Sushanta Kumar Mahapatra (The ICFAI Foundation for Higher Education (IFHE) (Deemed), Hyderabad, India)and Vishal Sarin (Lovely Professional University, India)
DOI: 10.4018/978-1-7998-6896-5.ch014

Keywords: Business & Management / Business Science Reference / Economics and Economic Theory / Global Business

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Abstract

The micro small and medium scale industry in India is an important sector, as it has contributed tremendously to the economic as well as social development. It has not only encouraged entrepreneurship but has also been instrumental in generating employment. The sector supports large-scale industries as it offers a wide range of products and services. The Covid 19 pandemic is having an impact on the sector such as loss of profit and revenue, loss of employment, and working capital problems. The chapter covers the impact in three stages: pre-pandemic, during the lock down, post-lock down and post-pandemic. It studies the remedial measures undertaken to revive and sustain the sector. It traces the risks, challenges, and opportunities for the sector. The chapter focuses on the journey of the MSMEs Sector from before the pandemic to the current situation and tries to analyse what lies ahead.

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The Socio-Economic Impact of the Pandemic on the Micro-, Small-, and Medium-Scale Enterprises

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