Indian MSMEs – braving the impact of geopolitical crisis

Small entrepreneurs, who are the backbone of any economy, were seen to be on a recovery path in India after being hobbled by restricted economic growth due to the two COVID waves. Of course, several government-led initiatives, coupled with the revival of market demand, had helped MSMEs (micros, small, and medium enterprises) to improve their performance. However, the global economic fallout of the armed conflict between Russia and Ukraine, and the rising global interest rates & inflation can pose a challenge to the recovery of domestic MSMEs, going forward.

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