Over 40% of Defence MSMEs Face Closure Within 3 Months

The coronavirus crisis-led lockdown could wipe out about 40% of the defence sector’s micro, small and medium enterprises within three months unless a support package is put in place by the government, an Ernst & Young study shows. The study, which involved discussions with Indian defence industry representatives, says that a complete revival of all MSMEs is expected to take a year and the cost of products could go up marginally when production is resumed. Read More…