Fueling India’s Future: Empowering SMEs for Sustainable Growth

On this National Small Industry Day, we honor the pivotal role of small and medium-sized enterprises (SMEs) in shaping India’s economic future. SMEs are the backbone of our economy, contributing nearly 30% to India’s GDP and accounting for 45% of the country’s exports. With over 63 million SMEs across India, they generate employment for more than 110 million people, fueling innovation, entrepreneurship, and regional development.

Government initiatives such as the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) and the Emergency Credit Line Guarantee Scheme (ECLGS) have significantly boosted SME growth. The CGTMSE has provided collateral-free credit to over 2.5 lakh MSEs, while the ECLGS has offered guarantees of ?3.61 lakh crore to over 1.19 crore borrowers by January 2023, expanding opportunities and driving national growth.

At Capri Global, we are committed to support the SMEs with accessible financing solutions. In today’s fast-evolving economy, digital transformation and access to credit are essential for SMEs to scale and compete globally. Our MSME loan disbursals reached ?6,164 million in the last quarter of FY24, a substantial rise from ?3,259 million in the first quarter. As of Q1 FY25, we have 31,164 live accounts, up from 28,050 in Q1 FY24, with a wide geographic presence across Rajasthan, Madhya Pradesh, Gujarat, Delhi, Maharashtra, and Uttar Pradesh, among others.

As we look toward a more resilient future, it’s important that we continue to empower SMEs with the right tools, resources, and funding to ensure their sustainable development. The future of small and medium-sized enterprises (SMEs) in India looks promising, with some projecting growth of up to $1 trillion by 2028. Experts say that the strong investor appetite, resilient market, and strong companies will keep the SME going strong in the future.

Capri Global remains a steadfast partner in this journey, committed to helping SMEs evolve from small-scale operations into key contributors to India’s vibrant economy. On this special day, let us celebrate the entrepreneurial spirit of SMEs and reaffirm our commitment to supporting their growth. Together, we can fuel a brighter, more prosperous future for India.

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