In a continued effort to support and uplift Indian-owned businesses, the government has approved RM2.01 million in grants for 35 companies under the 2025 Business Accelerator Programme for Indian-Owned Companies (I-BAP). This initiative reflects the government’s commitment to fostering inclusive economic growth and empowering minority-owned enterprises across the country.
Deputy Minister of Entrepreneur Development and Cooperatives, YB Dato’ Sri Ramanan Ramakrishnan, announced that selected companies will receive matching grants of up to RM100,000, depending on the scope of their respective projects.
“Today, 31 companies will be receiving offer letters, with grant amounts ranging from RM7,000 to RM100,000, tailored to the specific needs and scope of each project,” he said during his speech at the I-BAP Recipient Meet and Greet and Offer Letter Presentation Ceremony, held at Dewan Mahkota, SME Corp. Malaysia, Kuala Lumpur Sentral.
He stated that since the programme was launched in October 2024, a total of RM5.13 million in I-BAP grants has been approved, benefiting 85 Indian-owned companies. He said although the programme’s funds are nearly fully utilised, the government remains firmly committed to supporting Indian-owned Micro, Small, and Medium Enterprises (MSMEs).
“This includes the upcoming implementation of the 13th Malaysia Plan (RMK13), which aims to increase the contribution of MSMEs to 50 percent of the Gross Domestic Product (GDP),” he added.
The I-BAP initiative continues to play a vital role in driving the growth and resilience of Indian-owned businesses in Malaysia. With strong government backing and a clear vision under the 13th Malaysia Plan, the programme not only provides financial support but also reinforces the broader national goal of inclusive economic development. As funding reaches more entrepreneurs, it paves the way for MSMEs to thrive, contribute significantly to the nation’s GDP, and strengthen Malaysia’s diverse economic landscape.
Source: Kosmo Online
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