Thiruvananthapuram, May 23 (IANS) Claiming that timely intervention by the Narendra Modi government helped Kerala’s small business sector withstand global economic shocks, State BJP Pesident Rajeev Chandrasekhar said on Saturday that more than 5.5 lakh MSMEs in the state benefited from the Centre’s Emergency Credit Line Guarantee Scheme (ECLGS), with guaranteed credit support of more than Rs 8,405 crore extended to enterprises across the state.
Chandrasekhar said the scheme played a crucial role in protecting businesses, jobs and investments during periods of international uncertainty, including the recent turbulence linked to the West Asia crisis.
He described the programme as a key example of how the Narendra Modi government responded quickly to support entrepreneurs facing circumstances beyond their control.
Highlighting the case of a Thiruvananthapuram-based cyber forensics startup, Chandrasekhar said that the private firm had received vital support through the scheme at a time when business conditions were affected by instability in the Middle East.
“I was happy to hear from Shyam of the Thiruvananthapuram-based cyber forensics startup. He shared how ECLGS support through SBI provided critical relief during a difficult period. He specifically requested that his gratitude be conveyed to Prime Minister Narendra Modi,” the State BJP President added.
The BJP leader noted that Kerala’s economy remains closely tied to the Gulf region through remittances, trade, tourism and business activity, making the state particularly vulnerable to developments in West Asia.
According to him, schemes such as ECLGS helped enterprises manage working capital pressures, sustain operations, and retain jobs during uncertain times.
“When governments stand behind entrepreneurs, banks gain confidence to lend and businesses gain confidence to invest. That is how resilient economies are built,” Chandrasekhar said, while stressing that support to MSMEs was not merely about credit flow but also about safeguarding livelihoods and ensuring economic confidence.
He also urged eligible MSMEs and startups in Kerala to make greater use of Central government schemes aimed at promoting innovation, expansion and employment generation, saying easier access to credit could help businesses recover faster and create new opportunities in a challenging global environment.
–IANS
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