Business

FM Launches Ubharte Sitaare Fund To Support India's Future Export Champions

India’s Finance Minister Nirmala Sitharaman has 2021 launched the Ubharte Sitaare Fund under the Ubharte Sitare Programme, to help small and mid-sized companies achieve their export ambitions. Ubharte Sitaare Fund, co-sponsored by Exim Bank and SIDBI with a contribution of Rs 40 crore each has been successfully registered with SEBI in July 2021. The corpus of the fund is Rs. 250 crore with a green shoe option of Rs 250 crore. The fund would invest by way of equity, and equity like products in export-oriented units, both in the manufacturing and services sectors, across the country and facilitate rising stars in the export market to attain greater heights. The objective of the USF is to identify and invest in small and mid-size ventures in manufacturing and service industries with good export potential that could be future champions of export and handhold them through the growth phase. The Ubharte Sitare Programme diagnoses the hurdles and constraints of identified enterprises, and assists them in their growth and export strategies through a mix of structured support which covers both financial and advisory services in the form of equity, debt, and technical assistance.