Union Finance Minister Nirmala Sitharaman has launched an ambitious ‘Ubharte Sitaare Fund’ -USF for export-oriented firms and startups in a program at Lucknow. The Fund aims at arranging funds for the promotion of micro, small and medium companies. The fund has been set up by Exim Bank and SIDBI. This scheme will be successful in Uttar Pradesh as the state has the highest number of MSMEs.
About the programme:
- India Exim Bank’s Ubharte Sitaare Programme (USP) identifies Indian companies that have the potential to be future champions in the domestic arena while catering to global demands.
- The fund is a mix of structured support, both financial and advisory services through investments in equity or equity-like instruments, debt (funded and non-funded) and technical assistance (advisory services, grants and soft loans) to the Indian companies.