In a panel discussion by NewsX & BW, on India’s economy’s recovery and role of MSMEs, Dhanendra Kumar, former Chairman CCI stresses these are backbone of Indian economy, contributing 30% of GDP, 40% of India’s exports and more than 15 Crore jobs. 

During pandemic, e-commerce gave a huge support by connecting supply and demand, specially Tier 2 and 3 cities and rural areas. Highlighting their difficulties, he urged a separate Ease of Doing Business (EoDB) matrix for MSME’s, an urgent review of 1% TDS on e-comm participants u/s 194-O of Finance Act w.e.f 1st Oct, 2020, slicing their wafer thin margins and stressed cash flows, and  TCS u/s 206-C(1-h) all a big drag on their scarce funds. He pleaded for their withdrawal or deferment during the pandemic, when these re gasping for survival.

Link to excerpt from the Panel Discussion - https://youtu.be/XDaAAPbyy0Y