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By Arjun Kumar, Ritika Gupta MSMEs are key drivers of innovation, economic growth, and new employment generation, making them a key demographic constituent to measure the economic health of countries globally. And w Globalization of industries happening at a fast pace it will be critical for the growth of MSMEs to look into aspects of accessing the market potential offered by the global integration. In the joint talk organized by Centre for Work and Welfare (CWW), Impact Policy and Research Institute, New Delhi, Counterview and Working People’s Charter, Prof Dev Nathan said that a lot of trade is nowadays organized in the form of global value chains, and it’s important to know one’s role, and potential to upgrade within the global value chains. It is a critical issue for developing countries as they move from being Least Developed Countries (LDCs) to become Moderately Developed Countries (MDCs) further moving along the middle-income trajectory.
By Dr Arjun Kumar, Ritika Gupta Delivering a Special Lecture organized by Centre for Work and Welfare (CWW) at the Impact and Policy Research Institute (IMPRI) on Labour, Employment and Pandemic: Policy Suggestions and Way Forward for Budget 2021, Prof Santosh Mehrotra, retired professor, Jawaharlal Nehru University (JNU), observed that the fiscal stimulus provided by the Government of India (GoI) post-lockdown was severely inadequate. It was only a fraction of what was provided post the 2008 global financial meltdown where the effects on the economy were comparatively mediocre, he maintains. Prof Mehrotra stated that while going into the ill-planned lockdown, India already had about 280 million unemployed people. He added that the growth rate of the country was falling quarter by quarter since 2016 and had hit a dismal low of 4.1% in early 2020. The lockdown imposed in March, which is touted as the most stringent in the world by various reports, skyrocketed India’s unemployment rates and contracted the growth rate lower than any other G-20 country, he added.