As the COVID-19 pandemic continues to wreak havoc around the world, export data from some third-party websites are quite disturbing to look at. As per the CEIC, India saw the steepest fall in exports in April as against a group of 20-22 countries around the Asia & Oceanic region. Earlier this month, the government announced several schemes under the Atma Nirbhar policy to support the trouble-ridden small and medium enterprises (SMEs) of the country. Even though the policy was overall welcomed by industry stakeholders, there are some concerns around its potential outcome. Additionally, even though the government gave a sovereign guarantee and announced a Rs. 3 lakh crore scheme for collateral-free loans for MSMEs to avail emergency credit from banks and NBFCs, financial institutions are not willing to take the lead, adding further to the industry’s woes. Additionally, these lenders have been given freedom to undertake their own due diligence before servicing MSMEs. Several stakeholders fear that financial institutions might use this power to their advantage and hence, government intervention is required to oversee this scheme. With India now staring at Lockdown 5.0, one can only hope supply chain and other logistical companies resume work and help the exporters get back to business as soon as possible.