First NorthEast SMB Outreach program BizAmp organized by MSME Ministry 

Current Affairs

  • Secretary, Ministry of MSME Shri B.B Swain presided over BizAmp, an outreach programme organized by the Ministry of MSME in association with  NSIC Venture Capital Fund Limited (NVCFL) under its Self Reliant India (SRI) Fund at Dimapur Nagaland on 4th May 2023.
  • The programme , aimed at empowering MSMEs from the North Eastern States and amplifying their businesses utilizing benefits under SRI Fund, saw participation from MSMEs across the north east region, daughter funds and other state dignitaries.
  • The program had dedicated sessions for the participants that included awareness sessions from SBI Capital Ventures, NEDFi etc.
  • It also provided a platform to beneficiary MSMEs to present their stories and inspire the aspiring MSMEs present at the event.
  • The event showcased concerted efforts of State and Central government with the presence of Industry Secretaries from various north eastern states who provided insights about various policies designed for MSMEs to assist them in their growth.
  • The Government of India, launched SRI Fund with an outlay corpus of Rs 10,006 crore, concentrated towards financing an infusion of capital to MSMEs through Daughter Funds.
  • The SRI fund which is being managed by NVCFL, is an Alternative Investment Fund (AIF) providing growth capital to MSMEs through equity/quasi-equity/equity-like structured instruments. 
  • As on 31st March 2023, the fund has made a capital commitment of Rs. 5,120 crore to 42 empaneled daughter funds.
  • BizAmp, the first outreach programme in the North East Region of the country focused upon maximizing capital benefits through NVCFL’s SRI Fund.
  • It served to provide a platform for the empaneled daughter funds of SRI Fund to reach the MSMEs in the NE Region of India.

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