NSIC: A new venture to enforce MSMEs funds
NSIC Venture Capital Fund Limited has begun procedures to finance Micro, Small and Medium-scale Enterprises (MSMEs) for their expansion in Coimbatore.
INTEC 2022, a five-day industrial fair organised by Coimbatore District Small Industries Association to retrieve the MSMEs potential. Before COVID-19, the MSMEs in the country had enormous demands. But, after the pandemic, the enterprises have stalled down.
Yet, the demand is peaking now, and the NSIC and MSME ministry has launched several initiatives for the MSME enterprises. For example, the Emergency Credit Line Guarantee Scheme (ECLGS) has assisted the MSMEs in survival during pandemics.
The Union ministry has directed NSIC to enforce a reserve fund. So, NSIC Venture Capital Fund was formed to invest in MSMEs.
The Ministry of MSMEs has given a seed fund of ₹ 10,000 crore and daughter funds will bring in ₹ 40,000 crores.
This is not a seed fund but a growth fund; this will be a game-changer as funds will be functional without interest or collateral. To get updates follow https://msme.gov.in/
Vijay
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