Small traders in India are confident of easier finance and more growth hereafter as the Central government had recently categorized wholesale and retail traders as MSMEs making them eligible for loans and finance under priority sectors classified by the Reserve Bank of India.
Revealing this, a survey by American Express stated that more than 50% of merchants surveyed believe the Central government’s new MSME guidelines will hereafter offer them better financial opportunities and open doors to better schemes. The survey also found that small traders are now embracing new digital payment methods and innovative strategies to survive during the pandemic and as the economy recovers.
