As this initiative unfolds, it is expected to empower individual entrepreneurs and create an inclusive, dynamic, and resilient economic ecosystem, he said while inaugurating four technology centres and two extension centres in Greater Noida, Uttar Pradesh. The minister said stressed that MSMEs should strive hard and become world class, so that India can become self reliant.
Minister of state for MSMEs Bhanu Pratap Singh Verma in a written reply to the Rajya Sabha also said that the Credit Guarantee Fund Trust for Micro and Small Enterprises has approved and extended the guarantees to 78,06,655 Micro and Small Enterprises under the Credit Guarantee Scheme for Micro and Small Enterprises, since inception in 2000 till October 31, 2023.
India s Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) has approved a credit guarantee of Rs 1 lakh crore in the first seven months of the current financial year 2023-24. This is a significant boost to the Micro, Small and Medium Enterprises (MSME) sector, demonstrating the government s commitment to support MSMEs.