{
  "id": 12386197,
  "title": "Cabinet approves Rs 10,000 Cr SME growth fund to boost manufacturing",
  "url": "https://urgent.news/2026/10/06/cabinet-approves-rs-10-000-cr-sme-growth-fund-to-boost-manufacturing",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-06T12:54:47.000Z",
  "source": {
    "name": "YourStory",
    "slug": "yourstory",
    "url": "https://yourstory.com/2026/10/cabinet-approves-rs-10000-cr-sme-growth-fund-to-boost-manufacturing"
  },
  "original_language": "en",
  "account": "The Union Cabinet has approved a Rs 10,000 crore fund aimed at boosting Small and Medium Enterprises (SMEs) in India's manufacturing sector. This decision was made during a meeting chaired by Prime Minister Narendra Modi. The fund, known as the SME Growth Fund (SGF), aims to catalyze growth-oriented capital for SMEs and create leading Indian enterprises in various sectors. The SGF will focus on equity investments in SMEs, addressing a gap in the current market that primarily caters to early-stage enterprises, especially micro enterprises. The government will commit Rs 10,000 crore to an Alternative Investment Fund (AIF) set up under the SGF framework. This initiative will primarily benefit manufacturing SMEs and support balanced regional industrial development by investing in industrial clusters, including those in smaller cities. By enabling SMEs to expand capacity, adopt advanced technologies, and achieve greater scale, the SGF is expected to enhance scale, productivity, and export competitiveness. Information and Broadcasting Minister Ashwini Vaishnaw highlighted that the majority of funds will be directed towards SMEs in manufacturing, aiming to create champions, drive innovation-led industrialization, and generate quality employment opportunities across the country. The SGF is a crucial component of India's vision to become Viksit Bharat @ 2047.",
  "summary": "The SME Growth Fund will undertake direct equity investments in small and medium enterprises.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}