It recognises a three-pronged approach to help MSMEs grow as ‘Champions’ for Viksit Bharat.
Three-pronged approach Includes
- Equity Support
- Dedicated ₹10,000 crore SME Growth Fund for incentivizing enterprises based on select criteria.
- Proposed to top up the Self-Reliant India Fund set up in 2021, with ₹2,000 crore to micro enterprises.
- Liquidity Support
- Maximizing the potential of the TReDS (Trade Receivables Discounting System) platform through four specific measures:
- Mandatory TReDS Use: All CPSE purchases from MSMEs to be settled via TReDS.
- Credit Guarantee Support: CGTMSE to provide guarantees for invoice discounting on TReDS, reducing lender risk.GeM–TReDS Integration: Linking GeM with TReDS to share government purchase data with financiers, enabling faster and cheaper MSME credit.
- Secondary Market Development: Introduction of TReDS receivables as asset-backed securities to boost liquidity.
- Maximizing the potential of the TReDS (Trade Receivables Discounting System) platform through four specific measures:
- Professional Support (Corporate Mitras)
- These accredited para-professionals will help MSMEs meet compliance requirements at affordable costs.
- Professional institutions like ICAI, ICSI, and ICMAI will be facilitated to design short-term, modular courses to train these professionals.
About TReDS (Trade Receivables Discounting System)
About Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE)
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