Page 32 - Cgtmse

23 Annual Report 2022-23
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The Future Remains

Our Ongoing Journey

CGTMSE’s activities have seen a distinct spurt in the last
few years, coinciding with the strong growth taking place
in the economy and contributing towards making MSE
segment even more robust and competitive. CGTMSE
created a historic milestone by approving guarantees
for more than ` 1 lakh crore during FY 23 and thereby
helping about 12 lakh units to secure credit without
depending on the necessity of having collateral property.
It is pertinent to note that the scale of operations of
CGTMSE has gone up almost 3 times during the last 3
years itself.
Such unprecedented growth has resulted by various policy and operational modifications carried out by the
present management of CGTMSE based on the feedback received by all the stakeholders and backed on
the strength derived from the announcement made during the Union Budget for FY 2023 that the CGTMSE
scheme shall be revamped with required infusion of funds. Such modifications have felicitated increased flow
of credit to those small MSEs who are at the bottom of pyramid.

Coupled with operational ease of doing business, CGTMSE may focus on expanding its reach to cover a
broader spectrum of micro and small enterprises (MSEs) across various sectors and regions. This expansion
could involve reaching out to underserved areas and communities to promote inclusive growth. CGTMSE
may explore innovative guarantee products to address emerging needs in the MSE sector. This could involve
tailoring guarantee schemes to specific industries, types of financing or economic conditions.

Embracing digital technologies could be a crucial aspect of CGTMSE's future journey. Implementing digital
platforms and processes can enhance efficiency, reduce paperwork and improve the overall accessibility of
credit guarantees for MSEs. CGTMSE has already initiated the development of an exhaustive advance system
called Guarantee Management System (GMS) using cutting edge technology which will reduce manual
intervention with the help of API integration with Core Banking Systems of lending institutions for seamless
data flow. The new GMS system is expected to redefine user experience and will have interactive realtime
dashboard, mobile application for ease of operations and monitoring.

CGTMSE may strengthen its collaboration with various stakeholders, including various government bodies,
Industry association and World Bank. This collaborative approach can foster a supportive ecosystem for MSEs.

Further, to enhance the success of the MSEs it supports, CGTMSE is looking forward to invest in capacity
building and skill development programs. This could involve initiatives aimed at improving the financial literacy
and managerial capabilities of MSE entrepreneurs.

The success of CGTMSE’s journey is attributed to the Trust’s constant exploration of new initiatives,
transformative reforms and adaptive to evolving MSE demands.

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