- Financial Express
Why Factoring Amendment Bill 2021 purported to benefit MSMEs needs special attention
Credit and Finance for MSMEs: First, the good news. India is among the fastest-growing economies, post-pandemic measured by Bloomberg and the World Bank at 9.2 percent. Industrial Production (IIP) surged by 29.3 per cent in May 2021.
The IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) rose to 61.2 in May 2021, though, disappointingly it shrank to 48.1 in June 2021.
This post-pandemic growth projection encourages the micro, small, and medium enterprises (MSMEs) constituting the strong supply chain in manufacturing for a dream-run post-2022 once the cascading effect of the pandemic subsides.
There also has been a surfeit of policy changes in the sector with an outlook for growth in trade through the instruments planned for it.