U GRO Capital, a DataTech NBFC focused on MSME lending, and Laghu Udyog Bharati, an organisation dedicated to supporting and promoting micro-enterprises, have joined hands to launch an awareness campaign designed to empower India’s micro-enterprises.
Under this partnership, U GRO Capital, along with Laghu Udyog Bharati, will host a series of seminars, workshops and events in over 100 micro markets across India to educate and empower the network of small businesses empanelled with Laghu Udyog Bharati.
Commenting on the tie-up, Om Prakash Gupta, All India General Secretary, Laghu Udyog Bharati, said, “Our collaboration with U GRO Capital aligns perfectly with our mission and vision of helping MSMEs achieve their potential. We believe that providing education and awareness about government schemes and digital credit will be a game-changer for small businesses in India.”
Shachindra Nath, Vice Chairman and Managing Director of U GRO Capital, expressed his enthusiasm for this collaboration, saying, “At U GRO Capital, our mission is to address the credit needs of over 1 million small businesses in India over the next three years. We believe that empowering MSMEs with knowledge about government schemes and digital credit solutions is essential for their growth and success”.
As part of its ongoing expansion efforts, U GRO is set to establish a presence across 175 locations by the end of this fiscal. “We believe that India’s MSME requires education in being part of the formal economy and adoption of digitisation. This partnership with Laghu Udyog Bharati will be instrumental in helping us reach, educate and empower the MSMEs, providing them inputs which enables them to be ready to embrace credit solutions.”
India’s MSMEs have long been the backbone of the country’s economy, contributing significantly to employment generation, industrial production, and overall economic growth. The importance of MSMEs cannot be overstated, as they account for a substantial portion of India’s GDP and play a crucial role in poverty reduction and inclusive development.
However, for these businesses to thrive, access to credit and financial resources is paramount.