In a continued effort to promote economic inclusivity and uplift the Indian entrepreneurial community, the Ministry of Entrepreneur Development and Cooperatives (KUSKOP) has extended support to 8,466 Indian entrepreneurs between January and May this year.
Through a series of strategic initiatives—such as the Prosperity Empowerment and A New Normal for Indian Women (PENN), Bank Rakyat Indian Entrepreneur Financing-i (BRIEF-i), and the SPUMI Empowerment Financing Scheme (SPUMI Goes Big)—KUSKOP aims to foster sustainable growth, financial independence, and greater participation of Indian entrepreneurs in the national economy.
KUSKOP Deputy Minister YB Dato’ Sri Ramanan Ramakrishnan reaffirmed the government’s commitment to empowering the Indian community through entrepreneurship. “This clearly reflects the vital role Indian entrepreneurs play in driving Malaysia’s economic growth,” he stated during a press conference held in conjunction with the launch of the Vanigham Financing Scheme by SME Bank.
The scheme initially allocated RM50 million to support Indian-owned small businesses, offering loans ranging from RM100,000 to RM300,000 at a subsidised interest rate of 6%. Due to overwhelming interest, SME Bank increased the funding to RM140 million and began directing applicants to other relevant financing programmes to meet demand.
On June 26, RM2 million was distributed to the first group of 20 successful recipients. The event also saw the presence of KUSKOP Deputy Secretary-General Datuk Saidatu Akhma Hassan and SME Bank Chairman Datuk Muslim Hussain.
“I understand that many will question the remaining RM90 million. For applicants who applied for larger amounts, SME Bank has redirected them to other appropriate programmes offered under its umbrella,” he said.
He added that this move reflects SME Bank’s proactive approach in promoting the growth of micro, small, and medium enterprises (MSMEs) across the country.
This comprehensive support underscores the government’s unwavering commitment to strengthening the Indian entrepreneurial ecosystem in Malaysia. By introducing targeted financial schemes and expanding access to funding, KUSKOP and SME Bank are not only addressing the immediate needs of Indian entrepreneurs but also laying a strong foundation for long-term, inclusive economic growth. As these initiatives continue to gain momentum, they serve as a powerful testament to the vital role Indian entrepreneurs play in shaping Malaysia’s future economy.
Source: Bernama
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