As Deputy Minister of Entrepreneur and Cooperatives Development (KUSKOP), Datuk Seri R. Ramanan has decided to make to make the Indian community’s economy as his key focus.
This decision of his to empower the Indian community aligns with Prime Minister Datuk Seri Anwar Ibrahim’s Madani government vision of uplifting all Malaysians.
Yesterday (December 12) marks a year since his appointment, Ramanan reflected on his journey with gratitude and resolve thanking the Prime Minister for trusting him and adding that some groundwork has been laid off for the transformative change in the Indian business community.
Seven Initiatives Driving Transformation
Over the past year, Ramanan spearheaded seven key initiatives, channeling RM136 million to foster growth and resilience among Indian entrepreneurs.
These groundbreaking programmes include:
- SPUMI GOES BIG Programme: RM30 million allocated under Tekun Nasional to scale Indian businesses.
- PENN Programme: RM50 million through Amanah Ikhtiar Malaysia, empowering Indian women entrepreneurs.
- BRIEF–i Programme: RM50 million in low-interest financing under Bank Rakyat for Indian entrepreneurs.
- i-BAP Programme: RM6 million via SME Corp to accelerate Indian business growth.
According to the Sungai Buloh MP, this is the first time such initiatives have been introduced under the Madani government.
These funds were not part of the 2024 Budget but resulted from meticulous planning and collaboration.
Impact and Accountability
Nearly 10,000 Indian entrepreneurs have already benefited from these initiatives.
Ramanan personally oversees a dedicated monitoring team to ensure seamless execution and accountability.
“I am personally leading the monitoring team to ensure that the coordination and delivery of these programmes are effective. We have KPIs in place, and we will announce the list of beneficiaries within a month of each initiative’s launch,” he affirmed.
The programmes extend beyond financing to include entrepreneurship training under the EIP (Empowering Indian Entrepreneurs) initiative, information dissemination via Vanakam Madani, and strategic policy direction through the Indian Community Cooperatives Conference (PKKI 2024).
Cooperatives participating in these programmes can receive grants of up to RM30,000.
Tackling Hardcore Poverty
Under the Madani government’s leadership, the Indian community has witnessed a remarkable reduction in hardcore poverty.
According to him, the number of poverty has dropped to fewer than 1000 from 17,000 which showcases the impact these approaches has made in the community.
KUSKOP’s holistic strategy includes financial training to help entrepreneurs manage expenses and salaries effectively, complemented by low-interest loans and guidance.
“We’re not just providing financial support; we’re helping these entrepreneurs build sustainable businesses. With low-interest loans and financial guidance, we’re empowering them to rise above poverty,” he added.
A Vision for the Future
Looking ahead, Ramanan’s vision is clear: empowering the Indian community to thrive independently.
As businesses grow stronger, they can lift themselves out of poverty and inspire others to do the same, emphasizing the ripple effect of prosperity.
The Madani government’s unwavering commitment is evident in its plans for more initiatives next year.
Strengthening Transparency and Inclusion
Ramanan also highlighted the importance of transparency in implementing these initiatives.
He proposed external oversight from agencies like the Malaysian Anti-Corruption Commission (MACC) to ensure accountability.
Amid concerns about delays in Malaysian Indian Transformation Unit (MITRA) programmes, Ramanan urged patience.
“Yes, there have been delays in some programmes, but we must give the new leadership time to find the best structure for these initiatives. I believe they are doing their best and are committed to improving,” he said.
Call to Action
Ramanan encouraged beneficiaries to spread the word about the available programmes.
He added that it is vital to share these opportunities. This is important because only then the government can gauge their impact and plan for expansion or new initiatives.
As he reflects on his first year as Deputy Minister, Ramanan remains steadfast in his mission to uplift the Indian community.
With a blend of strategic initiatives, financial support, and unwavering determination, he envisions a future where every Indian entrepreneur thrives, contributing to the nation’s collective prosperity.
Source: Bernama
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