New Delhi, Oct 8:
The Union Cabinet has approved a Rs 10,000 crore SME Growth Fund aimed at providing equity support to small and medium enterprises, particularly manufacturing units.
The fund, which was first announced in the Union Budget for 2026-27, is intended to strengthen small and medium businesses and support their expansion. A major focus will be on manufacturing enterprises operating in industrial clusters, including those in Tier-II and Tier-III cities.
The government expects the initiative to improve access to growth capital for enterprises that may find it difficult to raise adequate equity through conventional channels.
The move is part of the Centre’s broader efforts to strengthen the manufacturing sector, encourage investment and create employment opportunities beyond major urban centres.