Revival of MSMEs (Post COVID-19) - Strategy of CMAs

Abstract

There has been an unprecedented slowdown due to Covid-19 and MSMEs are worst affected. Given their pivotal role in Indian economy, urgent measures need to be taken for their survival, revival and growth. Indian Government has taken various initiatives including Atma Nirbhar Package, however, still majority MSMEs are looking for timely guidance and hand holding at this critical phase. CMAs are known for rich experience in finance, domain expertise in cost management and sound knowledge of Indian regulatory mechanism. CMAs can play role as ‘Economic Warrior’ while offering customised strategy for revival of ailing MSMEs which will in turn boost up economic growth and help our grand nation to be ‘USD 5 Trillion’ economy soon.