India offers relief to small enterprises under massive economic stimulus

摘要

MUMBAI (ICIS)--The first tranche of India’s massive economic stimulus package was meant to prop up the micro, small and medium enterprise (MSME) sector of the giant emerging market economy amid the coronavirus pandemic. Indian finance minister Nirmala Sitharaman announced on Wednesday evening a rupee (Rs) 3tr ($40bn) collateral- free loan scheme for the country’s 4.5m MSME units. This will ensure their access to working capital to resume business activity and safeguard jobs as India emerges from nearly two months of nationwide lockdown.