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Abstract

Today as in a 21st century, everything changed very rapidly & continuously for the betterment offuture, new technology is simply a modified version & a technique to overcome the drawbacks of previous one. This paper discusses the growth and cordial link of microfinance organizations (MFO) in India. Keeping in with the spirit of 'Make in India' drive of GOI, the Small Industries Development Bank of India SIDBI has set up a Rs 1000 crore 'Make in India'fund for MSMEs. "The objective is to make our MSMEs world class manufacturing hub. SIDBI launches India aspiration fund and SIDBI Make in India loan for enterprises scheme. Under the fund, concessional finance will be provided to the identified MSME sectors", bank added. The paper looks at the growth of microfinance organizations (MFO) in India. Further, the specific objective of the campaign is to attract global investment in the microfinance sector. Shri Arun Jaitley, Honorable Finance Minister launched the India Aspiration Fund [IAF] set up by Small Industries Development Bank of India to boost the start-up Fund-of-funds ecosystem in the country. IAF is a Fund-of-funds managed by Small Industries Development Bank of India (SIDBI), which is India s Principal Financial Institution for the promotion, financing and development of the Micro, Small and Medium Enterprises (MSME) sector. Shri Jaitley also launched the SIDBI Make in India Loan for Small Enterprises [SMILE] Scheme of Rs 10,000 crore. Make in India is a campaign designed to make the country a manufacturing hub leading to economic transformation in India. The sectors being given emphasis under the program include: automobiles, chemicals, IT, textiles, ports, aviation, leather, tourism and hospitality, wellness, railways, design manufacturing, renewable energy, mining, bio-technology, pharmaceuticals and electronics etc. SIDBI plays an important role in microfinance sector of the country. The Micro, Small and Medium Enterprise (MSME) sector plays a vital role in the growth of our country in creating employment, exports, gross industrial value of output, gross value added, investment in fixed assets, contribution to GDP, and giving boost to manufacture, service and infrastructure sectors.

Keywords: Make in India, Microfinance, role of SIDBI

Introduction

MAKE IN INDIA:

Make in India is an initiative launched by the Government of India to encourage multi-national, as well as national companies to manufacture their...

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