COVID 19 and MSMEs: A revival framework

Sipahi, Esra

doi:10.58256/rjah.v1i2.146

Cited by 23 publications

(17 citation statements)

References 2 publications

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“…Indian economy follows an export-oriented growth model (Mishra, 2019). About half of India's exports are made up of MSMEs' products and services (Sipahi, 2020). The lockdown situation in India has impacted both supply and demand of the sector.…”

Section: Literature Review and Hypotheses Developmentmentioning

confidence: 99%

Explaining the revival strategies of Indian MSMEs to mitigate the effects of COVID-19 outbreak

Singh

Chamola

Kumar

et al. 2022

BIJ

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Purpose Micro, small and medium enterprise (MSME) is the kingpin of Indian economy. It contributes to 48% of India's exports and provides employment to 110 million people. As a result, it is critical to evaluate the obstacles, expose them and find a way to overcome the crisis due to the pandemic. The study aims to analyse the impact of financial and non-financial measures for the revival of MSME and its impact on firm sustainability and future opportunity as perceived by MSME owners/heads during the COVID-19 outbreak.Design/methodology/approachThis study, based on a cross-sectional survey of 197 export-oriented Indian MSMEs, attempts to investigate covid crisis mitigation strategies/measures in the context of the COVID-19 crisis. The confirmatory factor analysis (CFA) model was applied to check model fit, and structural equation modelling (SEM) was employed for data analysis.FindingsThe results of this study show the financial and non-financial revival measures such as firm revival, marketing training, customer relationship management (CRM), financial incentive and firm support, extending worker social security and financial access and price control positively impact MSMEs' business sustainability and future opportunity as perceived by the respondents that lent good support to the hypothesis.Research limitations/implicationsThe study emphasizes management in association with government and financial institutions to design short-term as well as long-term strategies that may enhance their sustainability in the market. MSMEs are being forced to reassess their business strategy and modify their operating model as a result of the uncertain/unpredictable climate. Many levels of strategy aid in revitalizing the company and providing future possibilities to move forward if the government schemes positively impact the perception of entrepreneurs. Further, the study identifies the immediate measures to tide over the crisis over this sector and then furnishes recommendations for closing the identified gaps in the present understanding.Originality/valueThe impact of COVID-19 on Indian MSMEs and how these MSMEs are dealing with it are highlighted in this paper, which is quite scarce and insufficient to cover the gap. It also provides a comprehensive view of firm sustainability and perceived opportunity among MSMEs.

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Section: Literature Review and Hypotheses Developmentmentioning

confidence: 99%

Explaining the revival strategies of Indian MSMEs to mitigate the effects of COVID-19 outbreak

Singh

Chamola

Kumar

et al. 2022

BIJ

View full text Add to dashboard Cite

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“…The new classification (Table 4) based on increased turnover is beneficial for enterprises as there is a chance to leverage a small amount capital to earn large incomes. (Sipahi, 2020). 4) has brought in transparency.…”

Section: Rationalementioning

confidence: 99%

“…Innovative technologies are shaping the relationships between buyers and suppliers connecting more locations and actions, which will provide more prospects for enterprises (Behera et al, 2020). There is a necessity for MSMEs to implement strategies suitable for global expansion (Sipahi, 2020).…”

Section: Suggestions For Msmesmentioning

confidence: 99%

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Impact of Covid–19 on MSME Sector in India: A Literature Review

Saritha

2022

IJEFI

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The world over has witnessed the pandemic called Covid-19 over the last 2 years. The unknown before and unanticipated doom has created havoc in an unprecedented manner. The adverse impact of this pandemic is globally recognized and it spread as a contagion affecting trade across nations undesirably. India being second largest populous country is no exception to this adversity. The lock down which is considered as one of the means to contain the spread of this pandemic was implemented in our country since March 2020, however unlock situation is being introduced in a phased manner. Though lock down was effective in containing the spread of pandemic, it was enabling the economy to cripple from progressing. Industries in manufacturing and services sector could not able to sustain lockdown and were pushed to doldrums. Majority of the enterprises suffered huge losses and were on the verge of closure. The MSME (Micro, Small and Medium enterprise) sector has been seriously hit due to this lock down measure. The present article reflects the review of literature surrounding MSMEs spanning from the last 2 years. The literature has been collected from various journal articles, government reports, newspaper articles etc.

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“…Instead of overemphasising the anti-China attitude, agro-based MSMEs should be created and artisans and craftsmen should be provided training that will enhance their skills and business opportunities. Besides, the government is required to decentralise its policies for MSMEs (Sipahi, 2020). Likewise, more decisions are required to be taken for rural artisans and for those who are not connected with urban areas (Shikhare, 2020).…”

Section: Literature Reviewmentioning

confidence: 99%

AatmaNirbhar Bharat Abhiyan: a tool to revive Uttar Pradesh handloom sector

Khatoon

Iffat

2021

RJTA

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Purpose The study aims to analyse the challenges faced by the Indian Handloom Sector with a special focus on the state of Uttar Pradesh before and during the COVID-19 pandemic. This study further explores the benefits of AatmaNirbhar Bharat Abhiyan for the betterment of the livelihood of the COVID-19–hit handloom weavers and allied workers. Design/methodology/approach A total of 400 handloom weavers and allied workers from ten cities of Uttar Pradesh were contacted through telephone. Descriptive statistics were applied to measure the awareness about the government welfare schemes and the benefits of these schemes. Furthermore, satisfaction and opinion of the handloom weavers and allied workers regarding the benefits and sufficiency of the funds received under these schemes have also been measured. Findings Based on the results, the least awareness has been noted about government welfare schemes. However, a small number of weavers and allied workers were found beneficiaries of the schemes. Additionally, the majority of the respondents were found dissatisfied with the benefits. The COVID-19 pandemic is an addendum to the plight of handloom weavers and allied workers. The measures of AatmaNirbhar Bharat Abhiyan could be used to aid weavers and allied workers to restore their lost revenue. Research limitations/implications This study has limitations. Firstly, the research is limited to the handloom industry of Uttar Pradesh. Future researchers could consider the handloom sector of other states like Maharashtra and Andhra Pradesh, known for hand-woven clothes. Secondly, this study aims to analyse the role of AatmaNirbhar Bharat Abhiyan in improving the living conditions of handloom weavers and allied workers and not to measure the impact of the Abhiyan on handloom weavers or the handloom sector. Researchers could measure the impact in future studies. Thirdly, the authors have not applied any behavioural theory or marketing models such as the Theory of Reasoned Action or the Blackwell model, which may be applied to study the attitude of handloom weavers towards welfare schemes. This may prove to be a potential direction for future research. Additionally, master weavers and handloom cooperatives societies were excluded while collecting the data. Future researchers could consider them to examine the role of the government’s welfare schemes for uplifting the socio-economic condition of the handloom weavers, allied workers, master weavers and the business of cooperative societies. Finally, due to lockdown and travel ban, the authors were forced to limit their survey to telephone only because of which they could not get the qualitative information in full. Researchers for future studies could visit the handloom concentrated areas personally or take the help of an enumerator for data collection. Practical implications The research holds significance for the young and competent designers, handloom weavers and allied workers. Designers could work with and hire handloom weavers of Uttar Pradesh. If designers and weavers work together, it will help them restore their business and generate revenue that they have lost due to the COVID-19 pandemic. Furthermore, policymakers can collaborate with designers, which will help enhance the socio-economic condition of handloom weavers and allied workers, which has deteriorated due to the COVID-19 crisis. Originality/value The research holds significance from the point of view of exploring the challenges faced by handloom weavers and allied workers of the state of UP before and during the COVID-19 period while examining the role of AatmaNirbhar Bharat Abhiyan in setting off these challenges.

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COVID 19 and MSMEs: A revival framework

Cited by 23 publications

References 2 publications

Explaining the revival strategies of Indian MSMEs to mitigate the effects of COVID-19 outbreak

Explaining the revival strategies of Indian MSMEs to mitigate the effects of COVID-19 outbreak

Impact of Covid–19 on MSME Sector in India: A Literature Review

AatmaNirbhar Bharat Abhiyan: a tool to revive Uttar Pradesh handloom sector

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