The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) since its inception in 2000 till November 30, 2023, has approved and extended guarantees to 79,53,694 Micro and Small Enterprises amounting to Rs 5,33,587 crore under the scheme.

The highest amount was provided to Maharashtra at Rs 62,807 crore followed by Uttar Pradesh at Rs 52,998 crore, Karnataka at Rs 43,120 crore, Tamil Nadu at 42,270, and Gujarat at Rs 42,162 crore among others.

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CGTMSE provides for guarantee for the credit extended by Member Lending Institutions (MLIs) to Micro and Small Enterprises (MSEs), without collateral and third-party guarantee.

The information was given by Minister of State for Micro Small and Medium Enterprises Bhanu Pratap Singh Verma in a written reply to the Lok Sabha.

Research and development promoted in MSME sector:

The MoS further highlighted that the government has taken several initiatives to promote Research and Development (R&D) activities in MSME Sector. These inter alia include MSME Innovative Scheme of Ministry of MSME, Atal Innovation Mission (AIM) of NITI Aayog, NIDHI-inclusive Technology Business Incubator (NIDHI-iTBI) Programme of Department of Science and Technology (DST), Regulatory Sandbox of Reserve Bank of India (RBI).

Apart from these, several testing and research laboratories have been established by Ministry of MSME, Defence Research Development Organization (DRDO), Ministry of Food Processing Industries, Ministry of Textiles etc, he highlighted.

The ministry is implementing MSME Innovative (Incubation) Scheme, a component under MSME Champions scheme for nurturing and development of ideas. Under the Incubation component of MSME Innovative Scheme of this Ministry, 533 ideas have been approved for nurturing and development with an amount of Government of India grant sanctioned of Rs 43.30 crore during the last three years 2021-22, 2022-23 and 2023-24.

Under the Ministry of MSME, there are 10 Tool Rooms, 8 Technology Development Centres are functioning to provide consultancy and R&D to MSMEs. Further, Department of Science and Technology supports entrepreneur through its programs all over India, where infrastructure and creation of lab facilities are supported for helping the entrepreneurs to convert their ideas into marketable product.