U GRO Capital and Laghu Udyog Bharati set to empower India's MSMES

New Delhi, December 5, 2023: U GRO Capital, a leading DataTech NBFC focused on MSME lending, and Laghu Udyog Bharati, an organization dedicated to supporting and promoting micro-enterprises, today launched a transformative awareness campaign designed to empower India's micro-enterprises with knowledge about government schemes, digital credit, and strategies for success in today's ever-evolving business landscape.

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. This collaboration is set to bring a positive and transformative impact on micro-enterprises in India, promoting their growth and success.

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. These events are aimed at educating and empowering the network of small businesses empanelled with Laghu Udyog Bharati. U GRO Capital, known for its innovative financial products and proprietary underwriting model, GRO Score 3.0, is well-equipped to support cashflow-based lending to MSMEs. This approach offers an effective means of extending credit to micro-enterprises, aiding them in their growth journey.

Om Prakash Gupta, All India General Secretary, Laghu Udyog Bharati, said, “Laghu Udyog Bharati has always been committed to supporting and promoting micro-enterprises in India – from enhancing gainful employment to their sustained growth. 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 our ongoing expansion efforts, we are set to establish a presence across 175 locations by the end of this fiscal. We believe that India’s MSME require education regarding the benefit of being part of 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 ready to embrace credit solutions. We view this collaboration as a significant step toward realizing our mission.”