New Delhi, Mar 4: On Tuesday, Prime Minister Narendra Modi emphasized the importance of establishing new credit delivery methods to provide timely and affordable financing to over six crore MSMEs nationwide.
During a post-Budget webinar focused on Micro, Small, and Medium Enterprises (MSMEs), the Prime Minister announced that loans of up to Rs 2 crore will be granted to five lakh first-time women, SC & ST entrepreneurs.
“We must create innovative credit delivery systems to ensure MSMEs can access low-cost and timely funding. Five lakh first-time women, SC, and ST entrepreneurs will receive loans of up to Rs 2 crore,” stated the Prime Minister.
He highlighted that MSMEs not only need financial support but also guidance, advocating for industries to launch mentorship programs to assist them.
“In today’s uncertain political climate, the world is looking at India as a ‘growth centre’,” said the Prime Minister.
He added that the Production-Linked Incentive (PLI) scheme introduced for 14 sectors has attracted over Rs 1.5 lakh crore in investments and generated total production worth over Rs 13 lakh crore.
“We have eliminated more than 40,000 compliance requirements at both the central and state levels, enhancing the ease of doing business,” PM Modi noted, underscoring the necessity to explore new manufacturing and export opportunities for the nation.
“Every country today aims to strengthen its economic ties with India. Our manufacturing sector must seize this opportunity,” the Prime Minister concluded. (Agencies)
