Dip in jobs, profits for MSMEs; noteban, GST to blame: Survey

While job loss was reported at the rate of 43% in the trader segment, micro-segments reported job losses of 32%, small segments reported 35% and medium-scale industries reported 24% job losses.

Traders and micro, small and medium enterprises (MSMEs) across the country have reported steady job loss and declining profits since 2014 and demonetisation, the roll-out of GST are among the reasons for the slowdown, according to a new survey by the All India Manufacturers’ Organisation (AIMO).

The AIMO survey, which analysed 34,700 samples from traders and MSMEs across the country revealed that these sectors suffered major setbacks in terms of its performance on various business aspects since 2014. The AIMO represents over 3 lakh micro, small-scale, and medium and large scale industries engaged in manufacturing and export activities.

While job loss was reported at the rate of 43% in the trader segment, micro-segments reported job losses of 32%, small segments reported 35% and medium-scale industries reported 24% job losses.