PM Modi hails SME Growth Fund as big boost for MSMEs, says ITLA will spur growth
Prime Minister Narendra Modi on Tuesday described the Cabinet’s approval of the ₹10,000 crore SME Growth Fund as a major boost for the MSME sector and said it would help create the next generation of...
Prime Minister Narendra Modi on Tuesday described the Cabinet’s approval of the ₹10,000 crore SME Growth Fund as a major boost for the MSME sector and said it would help create the next generation of Indian business leaders. He also highlighted the Cabinet approval for setting up the Integrated Transport & Logistics Authority (ITLA), saying greater coordination, data-led planning and multimodal integration across the transport ecosystem would have a wide-ranging impact on India’s growth trajectory.
“Big boost for the MSME sector! This Cabinet decision is a major step towards creating the next generation of Indian business leaders. It offers the platform for SMEs to scale up, adopt advanced technologies, expand manufacturing, enter global markets and integrate with global value chains,” PM Modi said in a post on X.
Big boost for the MSME sector!
This Cabinet decision is a major step towards creating the next generation of Indian business leaders.
It offers the platform for SMEs to scale up, adopt advanced technologies, expand manufacturing, enter global markets and integrate with global…
— Narendra Modi (@narendramodi) October 6, 2026
The Union Cabinet, chaired by the PM, on Tuesday approved a government commitment of ₹10,000 crore towards establishing the SME Growth Fund to provide direct equity investments in small and medium enterprises and help them grow into globally competitive companies.
Announced in the Union Budget 2026–27, the fund aims to mobilise growth-oriented capital for enterprises across manufacturing, services, technology, innovation-driven sectors and strategic value chains. It forms part of a broader package of Budget measures providing equity, liquidity and professional support to the MSME ecosystem. The government will provide an aggregate commitment of ₹10,000 crore to an Alternative Investment Fund established under the SME Growth Fund framework.
In another post on X, the PM said: “The Cabinet has approved the setting up of the Integrated Transport & Logistics Authority (ITLA) to bring greater coordination, data-led planning and multimodal integration across India’s transport ecosystem. This will have a wide-ranging impact on our growth trajectory.”
The Cabinet has approved the setting up of the Integrated Transport & Logistics Authority (ITLA) to bring greater coordination, data-led planning and multimodal integration across India’s transport ecosystem. This will have a wide-ranging impact on our growth trajectory.…
— Narendra Modi (@narendramodi) October 6, 2026
The Union Cabinet has also approved the setting up of a Special Purpose Vehicle (SPV) — Integrated Transport and Logistics Authority (ITLA) to strengthen research, planning, project appraisal, monitoring and impact assessment in the transport and logistics sectors.
The move seeks to address challenges arising from fragmented planning and implementation across multiple transport-related Ministries and agencies.
The government said greater coordination and integration across different modes of transport will help improve the efficiency, sustainability and effectiveness of infrastructure development in the country.
ITLA will function as the national apex institution for integrated transport and logistics planning, with responsibilities including research, project appraisal, policy support, monitoring, and data analytics.
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