Traders, MSMEs saw 3.5 mn job losses due to note ban, GST, other factors
Among various solutions, AIMO pushed for the supply of raw materials such as steel and aluminium to MSMEs at a lower subsidised cost
- The TMSME (Traders, micro, small and medium enterprises) sector has seen a loss of around 3.5 million jobs in the past 4.5 years, according to a survey conducted by the All India Manufacturers Organisation (AIMO).
- The worst-hit sectors where unorganised employment prevails were plastic, matches, crackers, dyeing units, stitching units, stone units, tanneries, job working units, and printing sectors, said the report.
- Raghunathan added that companies that were making a profit during 2014–15 have come down significantly in the past few years.
- Sectors that require immediate revival and need a great degree of assistance, according to AIMO, are housing, textiles, automobiles, power, match industries, stone industry, plastic, tannery and consumer products.