Nirmala Sitharaman unveils strategic measures for MSME development

With an aim to strengthen the MSME ecosystem, enhance last-mile credit delivery and accelerate the modernisation of rural industries, Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, has launched a set of strategic portals and initiatives. The minister said that MSMEs contribute nearly 35% of manufacturing output, 48% of exports and around 31% of India’s GDP. She also noted that the sector comprises over 7.47 crore entrepreneurs and provides employment to more than 32 crore people across the country.

The key initiatives launched by the Finance Minister include SIDBI-RRB Co-Lending Platform, a digital joint lending model designed to enhance MSME credit penetration in semi-urban and rural areas by combining SIDBI’s MSME expertise and digital capabilities with the grassroots outreach of Regional Rural Banks.

Besides, the Modernisation of Rural Enterprises (MoRE) Programme was unveiled, which is a cluster-based intervention providing credit and credit-plus support to modernise rural enterprises engaged in non-farming activities such as jaggery units, oil expellers, pottery units, flour mills and brass artisan enterprises.

Apart from this, Sitharaman has also launched the Micro Credit Card Scheme for Micro Enterprises, a scheme enabling Udyam-registered micro enterprises to access revolving credit of up to ₹5 lakh with 75% guarantee coverage and without mandatory primary security. Another major initiative launched was SIDBI MSME Exchange - Machinery Portal, a technology-driven digital platform integrating machinery discovery with institutional financing support to accelerate MSME capital investment and technology adoption.