By: Rajiv Raghunath
Last updated : May 28, 2021 10:19 am
The apex body has urged the ministry to consider extending the Emergency Credit Line Guarantee Scheme (ECLGS) to Indian OOH enterprises which are also MSMEs.
Indian Outdoor Advertising Association (IOAA), India’s apex OOH trade body, has made a representation to the Minister of Finance urging the ministry to consider taking strong steps for revival of the industry.
ECLGS was unveiled as part of the Rs 20 lakh crore comprehensive package declared in May 2020 to aid the MSME sector to ease out the economic stress due to Covid situation in India. The Scheme provides for additional working capital loans or long-term loans to MSMEs in the specified sector (travel, tourism, hospitality, leisure & sporting).
This shall go a long way in easing out the financial stress faced by the outdoor media industry and prop up the business on its feet. IOAA is hopeful of getting an appointment for a meeting with the Finance Ministry officials soon.