Mysuru: The Mysore Chamber of Commerce and Industry (MCCI) has welcomed the Union Government’s approval of a Rs. 10,000 crore Small and Medium Enterprises (SMEs) Growth Fund and urged the Centre and State Governments to ensure that eligible SMEs in Mysuru benefit from the scheme.

MCCI President Dr. K.B. Lingaraju said the fund, announced in the Union Budget 2026-27, would help SMEs raise long-term equity capital to expand their businesses, upgrade technology, increase production capacity, encourage innovation and enter international markets.

He noted that a major share of the fund was intended for manufacturing-oriented SMEs. The fund would also consider industries operating in industrial clusters in Tier-II and Tier-III cities, creating opportunities for Mysuru.

Many small and medium manufacturing units in Mysuru have strong production capabilities but lack long-term capital for expansion, technology upgrades, automation and export growth, he said.

The MCCI has urged the Central and State Governments, financial institutions and industry associations to establish a facilitation mechanism to help eligible Mysuru industries access the fund without delay.

It has also called for clear, easily accessible information on eligibility criteria, application procedures and the process of obtaining equity funding so that local enterprises can make use of the scheme.

“Mysuru’s SMEs should make use of this opportunity and grow into Future Champions,” Lingaraju said, adding that the initiative could support employment generation, export growth and balanced industrial development in the region.

He assured that the MCCI would extend full cooperation to ensure that the fund was effectively utilised for the growth of Mysuru’s industries. He also congratulated the Union Government, led by Prime Minister Narendra Modi and the Union Ministries of Finance and MSME on the decision.