Rs 10,000 cr venture capital for MSMEs likely to be used in equity participation in companies
Updated: Jun 19, 2015 11:15:11am
Mumbai, June 19 (KNN) The Rs 10,000 crore venture capital fund, which was announced for the small businesses in the Union Budget, is likely to be used in equity participation in companies.
Union MSME Minister Kalraj Mishra said this on Thursday on the side-lines of a logistic industry summit here.
When asked about the fund, Mishra replied that a committee appointed to look into it has presented its report recommending equity participation in companies as the way forward. He, however, did not give any timeline to launch the fund.
Meanwhile, he states that the Ministry of micro, small and medium enterprises (MSME) is done with the survey of industries and available skills in all districts.
Mishra said, “"It is big survey which we have carried out. We shall use the results to device government action for each district."
The survey was carried out across 676 districts, going into what kind of industry thrived in a particular area, he said.
Mishra said that to avoid small unit to go sick, the ministry has been urging small units to take advantage of schemes like the Credit Guarantee Trust for MSME (CGTMSE). Under the CGTMSE scheme, banks give collateral-free lending up to Rs 1 crore to the micro and small units. (KNN Bureau)
Union MSME Minister Kalraj Mishra said this on Thursday on the side-lines of a logistic industry summit here.
When asked about the fund, Mishra replied that a committee appointed to look into it has presented its report recommending equity participation in companies as the way forward. He, however, did not give any timeline to launch the fund.
Meanwhile, he states that the Ministry of micro, small and medium enterprises (MSME) is done with the survey of industries and available skills in all districts.
Mishra said, “"It is big survey which we have carried out. We shall use the results to device government action for each district."
The survey was carried out across 676 districts, going into what kind of industry thrived in a particular area, he said.
Mishra said that to avoid small unit to go sick, the ministry has been urging small units to take advantage of schemes like the Credit Guarantee Trust for MSME (CGTMSE). Under the CGTMSE scheme, banks give collateral-free lending up to Rs 1 crore to the micro and small units. (KNN Bureau)
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