Cabinet Approves ₹10,000 Crore SME Growth Fund for Manufacturing and Tech

6 Oct 2026, 4:47 pm · 2h ago · 1 min read · Inc42New

The Union Cabinet, chaired by Prime Minister Narendra Modi, has cleared the ₹10,000 crore SME Growth Fund to provide growth capital to small and medium enterprises. Announced in the Union Budget 2026-27, the fund will channel capital through Alternative Investment Funds into high-potential businesses across manufacturing, services, technology, and strategic value chains. A significant portion will target manufacturing enterprises and industrial clusters in Tier II and Tier III cities. The initiative aims to enhance equity access for MSMEs, enabling them to expand operations, adopt advanced technologies, and integrate into global supply chains.