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The Credit Guarantee Fund Trust for Micro and Small Enterprises hosted a Global Symposium on Credit Guarantees along with the 38th Annual Conference of the Asian Credit Supplementation Institution Confederation (ACSIC) in Mumbai, highlighting the importance of strengthening collateral-free credit access for micro and small enterprises (MSEs).
The event, organised as part of CGTMSE's Silver Jubilee celebrations, saw participation from over 19 countries and 26 organisations, including policymakers, credit guarantee institutions, financial institutions, and international experts, highlighting the growing global focus on strengthening credit guarantee ecosystems. Delivering the keynote address, Rajneesh, Additional Secretary & Development Commissioner, Ministry of MSM, emphasised the government's continued commitment to empowering MSEs through policy reforms and institutional support. He highlighted the role of credit guarantee mechanisms in addressing the persistent challenge of access to finance, particularly for enterprises lacking collateral. He noted that the government is focusing on improving ease of doing business, enhancing financial inclusion, and enabling digital and institutional transformation in the MSME sector. The symposium was inaugurated by Manoj Mittal, Chairman, CGTMSE & CMD, SIDBI, while Manish Sinha, CEO, CGTMSE, delivered the welcome address, setting the context for discussions and highlighting the significance of the platform. The symposium also featured panel discussions with participation from Ishita Ganguli Tripathy, Additional Financial Adviser & Joint Secretary, Ministry of Defence, and Anuja Bapat, Deputy Director General, Ministry of MSME, among others. Discussions during the first day focused on global perspectives, cross-border cooperation, risk management, sustainability, and financial inclusion in credit guarantee systems. Participants stressed the need for innovation, collaboration, and resilience in designing future-ready frameworks. The symposium aims to strengthen global cooperation and knowledge sharing in credit guarantee systems, with CGTMSE reiterating its commitment to supporting inclusive entrepreneurship and improving access to finance for small businesses. The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) has been set up jointly by Ministry of Micro, Small & Medium Enterprises (MSME) and Small Industries Development Bank of India (SIDBI) in year 2000. CGTMSE provides guarantee cover to collateral and/or third party guarantee free credit facilities extended by eligible Member Lending Institution (MLIs) to MSEs. (ANI)
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