Micro, small and medium enterprises (MSMEs) have taken ₹999 crore investments till July this year from the NSIC Venture Capital Fund, which has a corpus of ₹10,000 crore as ‘mother fund’, according to the National Small Industries Corporation.
P. Ravi Kumar, chief general manager of the National Small Industries Corporation (NSIC), said in Coimbatore on Tuesday that as part of the Self-Reliant India Funds, the MSME Ministry had earmarked ₹10,000 crore to the NSIC. These are disbursed through 55 SEBI-registered category II ‘daughter funds’. Of the ₹10,000 crore, ₹5,545 crore is committed for investment till July end and 460 industries had benefitted.
The NSIC is also implementing the MSME Trade Enablement and Marketing Initiative (MSME-TEAM) and the plan is to onboard five lakh MSMEs on the ONDC platform in three years. These units will get end-to-end support. NSIC also plans to develop a portal similar to the GeM portal for MSMEs, he said.
Speaking at the FICCI CMSME National Conference 2024 in New Delhi, Rajneesh, Additional Secretary and Development Commissioner (MSME), Ministry of MSMEs, said it had been estimated that there were about seven crore MSMEs in India and nearly five crore had registered with the government. Further, the government had bridged the credit gap for MSMEs in the last few years in not only the quantum of credit or funds, but also the cost of credit. In the last two years, credit guarantees worth ₹4 lakh crore were given to MSMEs and in the next two years, the plan is to ramp it up to another ₹5 lakh crore.
Published - September 10, 2024 10:09 pm IST
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