Mysuru, Nov. 4 -- The economic slowdown has affected all segments of industry among Small and Medium Enterprises (SMEs) across the country and around 20 lakh people have lost their jobs over the past two years, the Karnataka Small-Scale Industries Association (KASSIA) has said.
KASSIA President R Raju said at least 30% of SMEs have been shut down partially or completely.
The automobile sector downturn has led to an over 30-40% loss in business to SMEs supplying components to the sector.
Stating that due to wage policy the unemployment has been risen, as Micro and small scale industry owners cannot afford to pay Rs 15,000 to workers. He urged the Union government to cancel its policies on including SMEs under the wage policy.
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