Union Cabinet Approves Rs 10,000 Crore Growth Fund for Manufacturing SMEs

7 Oct 2026, 7:30 am · 4h ago · 1 min read · YourStory

The Union Cabinet has approved a Rs 10,000 crore SME Growth Fund to deliver long-term equity capital to small and medium enterprises across India. The government initiative focuses primarily on boosting domestic manufacturing, supporting technology adoption, expanding export capabilities, and driving business growth, particularly for enterprises based in Tier-II and Tier-III cities. The announcement coincides with increased public market momentum for Indian manufacturers, including FirstCry-backed Swara Baby Products securing SEBI approval for its Rs 1,000 crore initial public offering. The fund aims to strengthen foundational industrial infrastructure as India expands its broader digital and manufacturing ecosystems.