Claiming that timely intervention by the Narendra Modi government aided Kerala’s small business sector in facing global economic shocks, State BJP President Rajeev Chandrasekhar highlighted that over 5.5 lakh MSMEs in the state received support through the Centre’s Emergency Credit Line Guarantee Scheme (ECLGS), amounting to more than Rs 8,405 crore. The scheme proved vital in safeguarding businesses, jobs, and investments, particularly during periods of international uncertainty like the recent West Asia crisis. Chandrasekhar praised the government’s swift response in assisting entrepreneurs dealing with unforeseen circumstances.
Describing a success story, Chandrasekhar mentioned a cyber forensics startup in Thiruvananthapuram that benefitted from the ECLGS, emphasizing how the scheme provided crucial assistance when the business environment was impacted by instability in the Middle East. He shared feedback from the startup’s representative, expressing gratitude towards Prime Minister Narendra Modi for the support received through the program. The BJP leader underscored Kerala’s economic ties with the Gulf region and the significance of initiatives like ECLGS in helping enterprises navigate challenges and sustain operations.
Highlighting the importance of government backing for entrepreneurs, Chandrasekhar emphasized that such support not only boosts credit flow but also ensures job retention and economic stability. He encouraged eligible MSMEs and startups in Kerala to leverage Central government schemes aimed at fostering innovation, expansion, and employment generation, stating that improved access to credit could aid in faster recovery and the creation of new opportunities in a competitive global landscape.
