India’s Finance Minister Nirmala Sitharaman, on August 21, 2021, launched the ‘Ubharte Sitaare Fund’ for export-oriented small and mid-sized companies across India. Jointly set up by Exim Bank and SIDBI, this Rs 2.5 billion fund will invest by way of equity, and equity-like products, in export-oriented MSMEs in the manufacturing and services sectors.
‘Ubharte Sitaare Fund’ is a mix of structured support, and it will extend both financial and advisory services through investments in equity or equity-like instruments, debt (funded and non-funded), and technical assistance (advisory services, grants, and soft loans) to Indian MSMEs across various sectors, including pharma, auto components, engineering solutions, agriculture, and software.
