Impact of lockdown on SME businesses
The Backdrop (Indian macro-economic indicators): · India’s GDP growth forecast to be less than 2% · Unemployment rate in India increases by 23% in the midst of lockdown · Gold prices hit record high’s · USD/INR: Rupee slides to all-time low’s · Indian Stock markets crashed terribly (due to huge FII outflows) Impact on Indian SME businesses: · Low customer demand (other than for Essentials) · Labour challenges: Large-scale migration of workers from cities to villages · Challen