Traders, MSMEs saw 3.5 mn job losses due to note ban, GST, other factors

Among various solutions, AIMO pushed for the supply of raw materials such as steel and aluminium to MSMEs at a lower subsidised cost

The TMSME (Traders, micro, small and medium enterprises) sector has seen a loss of around 3.5 million jobs in the past 4.5 years, according to a survey conducted by the All India Manufacturers Organisation (AIMO). Demonetisation and the goods and services tax (GST) are the main reasons, besides other factors such as e-commerce, according to AIMO. 

The TMSME sector has been hit hard, with a job loss of 43 per cent in the trader segment, 32 per cent in the micro segment, 35 per cent in the small businesses segment, and 24 per cent loss in the medium businesses segment.