Central support protected 5 lakh Kerala MSMEs from global economic shocks: Chandrasekhar

BJP state president and MLA Rajeev Chandrasekhar on Saturday claimed that the central government supported Kerala's MSMEs and startups during global economic uncertainties through its ECLGS.

Chandrasekhar, in a statement, claimed that Thiruvananthapuram-based cyber forensics startup Alibi Global received critical relief through the Emergency Credit Line Guarantee Scheme (ECLGS) support at a time when uncertainty in the Middle East had affected business conditions.

''Kerala has been among the major beneficiaries of the scheme, with approximately 5.5 lakh MSME loan guarantees supported and over Rs 8,405 crore in guaranteed credit extended to businesses across the state.

''The scheme has enabled lakhs of enterprises to manage working capital pressures, sustain operations, protect jobs, and continue investing in growth despite external economic challenges,'' the BJP leader said in the statement.

Chandrasekhar, the MLA from Nemom assembly constituency, said that Kerala's economy remains deeply connected to the Gulf and the wider Middle East through remittances, trade, tourism, and business activity, making the state particularly sensitive to developments in the region.

When the Middle East faces instability, Kerala often feels the impact quickly, he added.

The BJP state president said that the ECLGS was a practical example of how the central government responds with timely, targeted support to ensure that entrepreneurs and small businesses are not left vulnerable to global shocks beyond their control.

The scheme also reflects the Centre's broader commitment to ensuring that Micro, Small and Medium Enterprises (MSMEs) have access to credit and liquidity during periods of uncertainty, while giving banks the confidence to continue lending when businesses need support the most, he said.

''When government stands behind entrepreneurs, banks gain confidence to lend, businesses gain confidence to invest, and jobs are protected. That is how resilient economies are built.

''Supporting our MSMEs is not just about providing credit, it is about safeguarding livelihoods, enabling growth, and creating confidence in the future,'' Chandrasekhar said.

He urged eligible MSMEs and startups in Kerala to actively explore and utilise government initiatives designed to support expansion, innovation, and job creation.

''The message from Kerala's entrepreneurs is clear -- timely access to credit matters. These initiatives help businesses survive periods of uncertainty, recover faster, and create new opportunities. More eligible MSMEs and startups should come forward and take advantage of the support mechanisms made available by the Modi government,'' the BJP leader added.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)