Micro, Small and Medium Enterprises (MSMEs) play a vital role in the growth and development of the Indian economy. The government of India has launched several schemes to support and promote the growth of SMEs in the country. In this blog post, we will take a look at some of the major government schemes for MSMEs in India.
- Pradhan Mantri Mudra Yojana (PMMY): This scheme aims to provide financial assistance to small businesses and entrepreneurs in the form of loans. The loans are provided through various banks and NBFCs, and can be used for a variety of purposes such as working capital, machinery, and equipment.
- Stand-Up India: This scheme aims to promote entrepreneurship among Scheduled Castes (SCs), Scheduled Tribes (STs), and Women. Under the scheme, financial assistance in the form of loans is provided to entrepreneurs for setting up new ventures.
- National Small Industries Corporation (NSIC) Schemes: The NSIC provides various services to SMEs such as marketing, technical, and financial assistance. Some of the major schemes offered by NSIC include the Single Point Registration Scheme, the Performance and Credit Rating Scheme, and the Marketing Assistance Scheme.
- National Minorities Development & Finance Corporation (NMDFC): This scheme aims to provide financial assistance to minority communities such as Muslims, Christians, Buddhists, Parsis, and Jains for setting up new ventures or expanding existing ones.
- Technology Upgradation Fund Scheme (TUFS): This scheme aims to promote the modernization and technological upgradation of the textile industry in India. Financial assistance is provided to textile units for upgrading their technology and machinery.
These are just a few of the major government schemes for MSMEs in India. There are many other schemes available to support and promote the growth of SMEs in the country. It is important for SMEs to be aware of these schemes and take advantage of the opportunities they offer.
MSME Money strives to partner with MSMEs and work with them in areas of Delayed Payments, Technical Consulting and guidance to apply and avail various MSME schemes. Call or Whatsapp us today at +91 70921 91919.
