Reciprocal tariffs will exacerbate stress for MSMEs: Ind-Ra

India Ratings and Research (Ind-Ra) indicates that reciprocal tariffs will disproportionately affect MSMEs, exacerbating existing financial stress due to tariff war 2.0. While mid-sized corporates possess greater resilience, MSMEs, characterized by limited financial flexibility and management depth, face heightened vulnerability to demand slowdowns and global economic pressures.