IIT-M, industry bodies to study COVID impact on MSMEs in TN
Tamil Nadu

IIT-M, industry bodies to study COVID impact on MSMEs in TN

Agency News

Chennai, May 14 : The Indian Institute of Technology-Madras (IIT-M) is collaborating with industry bodies to study the impact of COVID-19 crisis on Micro, Small and Medium Enterprises (MSMEs) in Tamil Nadu. The study is expected to be completed within three to four weeks, a release from (IIT-M) said today. In the context of the stimulus package announced by Union Finance Minister Nirmala Sitharaman for the MSME sector, this exercise will be a time-bound study for understanding the resilience of the MSMEs in the State.

Tamil Nadu accounts for one of the largest number of MSMEs in the country with more than 6.89 lakh registered enterprises, accounting for more than 15 per cent of the total MSMEs in the country. Given the significance of MSMEs in Tamil Nadu, the disruption caused by the COVID-19 is a major concern, the release said.

The study is led by IIT-M Department of Humanities and Social Sciences Faculty Dr Subash Sasidharan, Associate Professor of Economics, and Dr Santosh Kumar Sahu, Assistant Professor of Economics. Based on the outcome of the study, the researchers plan to analyse the Adaptation and Coping Strategies to overcome the shock due to the pandemic, which could help in quick recovery of the MSMEs in Tamil Nadu. 'The plan is to outline the immediate and long run policy initiatives for the MSMEs in Tamil Nadu in order to overcome the economic shock due to the pandemic', Dr Subash said.

“MSME sector is the largest employer in the country. The survival of these enterprises are at stake due to this pandemic. Therefore, there is an urgent need to undertake research to analyse the challenges of these enterprises in detail", he added. The IIT-M is partnering with ConsoTree, a pioneer in Research and Industry Development and industry bodies like Tamil Nadu Small and Tiny Industries Association (TANSTIA), an apex body of MSMEs, and district level bodies including Coimbatore District Small Industries Association (CODISSIA) and Madurai District Tiny and Small Scale Industries Association (MADITSSIA). (UNI)