Finance Minister Sitharaman launches initiatives to strengthen MSMEs

New Delhi ( The Indian View team) : Union Finance Minister Nirmala Sitharaman today called for increased focus on the three Fs – fuel, fertiliser and forex – amid the ongoing West Asia crisis, while asserting that the Indian economy remains resilient. Speaking at an event in Mumbai to mark the 37th anniversary of the Small Industries Development Bank of India (SIDBI), Ms Sitharaman launched a set of strategic portals and initiatives aimed at strengthening the MSME ecosystem, enhancing last-mile credit delivery and accelerating the modernisation of rural industries.

The initiatives launched include the SIDBI MachFin Mart, a digital platform to help MSMEs access machinery through a structured marketplace supporting price discovery, standardisation and technology adoption. The finance minister also launched the RRB Co-Lending Portal to operationalise partnerships between SIDBI and Regional Rural Banks for improving credit flow in rural and underserved regions.

Another major initiative launched was MoRE, or Modernisation of Rural Enterprises, a programme aimed at providing transformational support to 10 thousand rural micro and artisanal units over the next three years through cluster-based interventions.

She also highlighted that delayed payments worth 8.1 lakh crore rupees to MSMEs are affecting their working capital and growth prospects. She urged public sector undertakings to ensure payments to MSMEs are made within the mandated 45-day period.

SIDBI Chairman and Managing Director Manoj Mittal said the initiatives would improve credit access, promote technology adoption and support modernisation of rural enterprises, making them more competitive and future-ready.