MSMEs have shown more resilience during second wave in India – Study
According to a study, MSMEs in India have shown more resilience during the COVID-19 pandemic’s second wave as businesses on an average declined only 11% as compared to almost half (46%) after the national lockdown in 2020.
A 2021 mid-year COVID-19 impact analysis released by fintech start-up Khatabook recently made a statement that MSME sector in India was yet to recover to the pre-COVID-19 levels of March 2020.
Tier 1 and 2 cities experienced slightly less business impact of the pandemic during the second wave, as compared to metros, tier 3 and tier 4 towns, according to the analysis. In addition, large businesses were more sensitive towards the pandemic-induced restrictions than medium and small businesses, it found.
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