A decline in demand for their products and a rise in raw materials prices are two major problems faced by Indian MSMEs during the last 27 months. This has been revealed by a survey of over 5,600 Indian MSMEs conducted by the Bhartiya Yuva Shakti Trust (BYST). Meanwhile, the hike in the cost of raw materials has been mainly due to the increasing transportation costs resulting from the rise in fuel prices. Though the impact of the Covid-19 pandemic has been receding gradually, the economic situation has yet to stabilize completely. Because of this, most MSMEs need help to bag new orders for their merchandise.
