demonetisation: No record to show MSMEs impacted by demonetisation: Gadkari – The Economic Times

Last Updated: Mar 16, 2020, 06.19 PM IST
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Answering another question on whether MSMEs were being impacted by the Coronavirus breakout, Gadkari said that it has posed an opportunity in the hands of MSMEs instead.
New Delhi: Micro, small and medium enterprises (MSMEs) in the country are facing issues because of lack of demand, power shortage, inadequate marketing, and not because of demonetisation, Union minister for MSMEs Nitin Gadkari said in the Parliament on Monday.

“Ye notebandi ke kaaran aisa kuch hua hai, aisa kuch record hamare paas upalabdh nahi hai (We do not have any record available with us which implies that MSMEs have been impacted because of it),” Gadkari said in response to a question on MSMEs shutting down because of demonetisation, in the Rajya Sabha.

Gadkari said that small enterprises were facing issues related to shortage of working capital, labour management, and the global economy.

“There are some problems because of the global economy, some problems because of demand and supply, and there are some problems because of business cycle,” he said.

Answering another question on whether MSMEs were being impacted by the Coronavirus breakout, Gadkari said that it has posed an opportunity in the hands of MSMEs instead.

“It is not practically correct to say this, but because of coronavirus, a lot of opportunity rests with the Indian industry now,” Gadkari said, adding that the government was extending full support to MSMEs during this time.

via demonetisation: No record to show MSMEs impacted by demonetisation: Gadkari – The Economic Times

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