Cabinet approves Rs 10,000 crore SME Growth Fund and ITLA
· Business · Times of India, Indian Express, Hindustan Times
The Union Cabinet, chaired by Prime Minister Narendra Modi, approved a Rs 10,000 crore commitment to establish the SME Growth Fund to provide equity support to growth-oriented small and medium enterprises, with a focus on manufacturing and businesses with potential to emerge as global champions. The Cabinet also approved the establishment of the Integrated Transport & Logistics Authority (ITLA), an SPV that will serve as an apex institution for integrated transport and logistics planning, project appraisal, monitoring and data analytics. Additionally, the Cabinet passed a resolution congratulating PM Modi on completing 25 years of continuous leadership as head of government. The SME Growth Fund will be set up as an Alternative Investment Fund (AIF) and aims to address the shortage of long-term risk capital for SMEs seeking to expand, adopt technology and enter international markets. ITLA will prepare a long-term national transport master plan covering multiple modes. The SME fund initi
Why it matters
The SME Growth Fund will directly benefit small and medium enterprises in manufacturing and industrial clusters by providing long-term equity capital for expansion and technology adoption. The establishment of ITLA aims to improve coordinated transport and logistics planning across modes, potentially enhancing efficiency for businesses and consumers.
Read the original report — Times of India
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