Webinar session on the topic, “COVID 19 and MSMEs Sector” was conducted by Dr. Supran Kumar Sharma, Dean, Faculty of Management, Shri Mata Vaishno Devi University in the Refresher Course in Commerce & Management at the UGC-Human Resource Development Centre (UGC-HRDC) Kumaun University, Nainital (Uttarakhand). Dr. Sharma explicated that MSMEs sector in India is second largest employment generator after agriculture and acts as a breeding ground for entrepreneurs and innovators with considerable support in strengthening business ecosystem.
The session elucidated that the estimated number of MSMEs in India is around 63 million which employs 110 millions. Indian MSMEs produce more than 6,000 products for local and global consumption and contributing around 45-48 % of total exports. MSMEs exposed to higher level of integration with global value and supply chains are playing critical role in global trade systems. Dr Sharma emphasised that the potential of Indian MSME sector is still untapped and that is one of the reasons why government policies are now more convergent towards building resilient ecosystem with better breadth and depth.
Dr Sharma exposed that presently the sectors is facing the highest job losses during pandemic although a few sub sectors are doing well despite the Covid-19 crisis. Further Dr Sharma highlights how Ministry of MSME is taking steps towards making these enterprises global and improve the overall business environment, by making it more conducive and transparent for all stakeholders. The sector also holds answer to critical questions like unemployment, local economy development, fiscal deficit, trade balance, financial sector development, SDG alignment and so on. Alonwith Dr. Sharma, Prof. Kalptaru Bandopadhyay, Vidyasagar University West Bengal and Dr. Mandeep Kaur, Head School of Financial Studies, Guru Nanak Dev University, Amritsar shared platform for detail deliberation on the broader issues related with impact of Covid-19 pandemic.