The Union Cabinet has approved a Rs.10,000 crore commitment towards the establishment of the SME Growth Fund, aimed at providing growth oriented capital to small and medium enterprises. The fund will provide patient equity capital to high potential SMEs with demonstrated business viability and scalability, with a focus on manufacturing, services, technology, innovation and strategic value chains. The initiative is part of the broader MSME support measures announced in the Union Budget 2026-27. The government said the fund is intended to help promising SMEs expand their scale, strengthen capabilities and emerge as globally competitive enterprises. The move could be particularly relevant for rubber product manufacturers and engineering SMEs seeking capital for capacity expansion, technology upgrades and diversification.