The Indian government, in collaboration with leading professional institutions, is taking decisive steps to strengthen small and medium enterprises (SMEs) and micro enterprises, aiming to create a robust ecosystem of "Champion SMEs" across the country.
ICAI, ICSI, and ICMAI to Facilitate Corporate Mitras for MSMEs
To help MSMEs meet compliance requirements efficiently and at affordable costs, the government will work with ICAI, ICSI and ICMAI to develop short-term, modular courses and practical tools. These initiatives will create a cadre of 'Corporate Mitras', especially in Tier-II and Tier-III towns, who will act as accredited para-professionals assisting small businesses with financial and regulatory compliance.
This initiative not only simplifies compliance for MSMEs but also generates employment opportunities for trained para-professionals, strengthening the overall business ecosystem.
Rs 10,000 Crore SME Growth Fund to Nurture Future Champions
A dedicated Rs 10,000 crore SME Growth Fund will be launched to identify and incentivize high-potential enterprises. By targeting businesses with strong growth potential and market competitiveness, the fund aims to create future Champion SMEs that can expand operations, innovate and contribute significantly to India's economic development.
Additional Rs 2,000 Crore Allocation for Micro Enterprises
To continue supporting smaller businesses, the Self-Reliant India Fund will receive an additional Rs 2,000 crore allocation. This ensures micro enterprises maintain access to risk capital, enabling them to scale operations, innovate, and strengthen their local communities while promoting self-reliance.
Strengthening India's SME and Micro Enterprise Ecosystem
By combining financial support with professional capacity building through ICAI, ICSI and ICMAI, India is fostering a sustainable ecosystem for SMEs and micro enterprises. The development of Corporate Mitras ensures even small businesses can navigate compliance challenges efficiently, while the SME Growth Fund and Self-Reliant India Fund empower enterprises to scale and compete globally.
This integrated approach is a significant step toward building a self-reliant, innovative, and resilient SME sector, crucial for driving economic growth, job creation and long-term prosperity in India.
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