Nirmala_Sitharaman urges Small_Industries_Development_Bank_of_India role expansion

Union Finance Minister Nirmala Sitharaman>>> urged the India — Small Industries Development Bank of India>>> (SIDBI) to expand its role beyond traditional lending, becoming a market maker and risk-sharing partner for India>>>'s MSMEs and startups. Speaking at SIDBI's 37th Foundation Day, Nirmala Sitharaman>>> emphasized the need for customized financing solutions that align with the unique business cycles of various enterprises, such as those in farming, tourism, exports, and manufacturing. She also called for SIDBI to deepen the venture capital debt market to provide patient, flexible, and growth-oriented capital to innovative startups. The minister highlighted the government's efforts to protect businesses from global economic uncertainties, including reducing excise duty on petrol and diesel and providing customs duty exemptions on raw materials.