Introduction
India’s Micro, Small, and Medium Enterprises (MSMEs) play a crucial role in the country’s economic and social development. Contributing about 30% to India’s GDP and 45% to its exports, MSMEs number around 64 million as of February 2024. Despite their importance, these enterprises face significant challenges in accessing credit, which is essential for their growth and expansion. Government initiatives like the Emergency Credit Line Guarantee Scheme and the Credit Guarantee Trust Fund for MSMEs have been implemented to support collateral-free loans. However, only 250 lakhs of the 630 lakh MSMEs are part of the formal credit ecosystem. Issues such as lack of collateral, low debt capacity, high perceived risk, and insufficient credit data continue to hinder their access to capital.
With a potential credit demand exceeding USD 220 billion and a capital deficit of USD 112 billion, there is a critical need for innovative solutions to bridge the gap. To achieve India’s vision of a USD 5 trillion economy by 2030, collaboration among banks, NBFCs, and fintech companies is essential. Our webinar will explore how to unlock economic opportunities for MSMEs by scaling digital credit and integrating them into the formal financial system.
𝗘𝘃𝗲𝗻𝘁 𝗗𝗲𝘁𝗮𝗶𝗹𝘀
📅 September 12th, 2024
🕕 16:00 PM – 17:30 PM (IST)
📍 Virtual
