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The association said the latest revision is also based on other factors of consideration.
“More retail businesses will be allowed to open from March 2020. Nevertheless, movement restrictions continue to affect shopping traffic throughout the country.
“Interstate travel ban is expected to be enforced for a longer period of time and it has been affecting domestic tourism spending, ” it said in a statement.
RGM said the return of foreign tourists will be slow and gradual.
“Travel bubbles with selected countries will likely begin towards the end of this year. Vaccination on the majority of the population will take a while. Thus, movement restrictions and social distancing measures will remain until the end of this year.
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With a contribution of nearly one-third to India’s economy and creating about 11 crore jobs, India’s micro, small and medium enterprises (MSMEs) sector is a key element in the country’s growth story. Despite this, the sector continues to face challenges of inadequate and timely financial services that have led to inaccessibility to regular credit, which hinders their ability to implement emerging technologies and boost their growth.
Traditionally, major banks and financial institutions in India sought to serve MSMEs by extending their products and services, usually offered to large customers, to MSMEs. But given the singular nature of such businesses and their financial needs, it was prudent for lenders to adopt a different and a holistic approach rather than just targeting a few individuals or entities.
/PRNewswire/ The online grocery delivery services market is expected to grow by USD 631.84 billion during 2020-2024, according to Technavio. The report.