MSMEs are heralded as the new engine of growth for the Indian economy. They drive approximately 30% of national GDP, and their growth will be critical to the ambition of a $5 trillion economy. Yet the ominous clouds of financial constraints loom large over this sector of the economy, and since the beginning of the pandemic, small businesses in India have seen significant distress with a third of all micro-enterprises reporting layoffs as their narrow well of cash reserves went dry.
Cash flow cycles for MSMEs that are part of the supply chains of large companies are stretched due to stuck and …
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