Mastercard programmes facilitate over USD 150 million credit for Indian small businesses
Mumbai, September 4
Mastercard Strive in India and its complementary programmes have facilitated more than USD 150 million in credit for small businesses in the country, according to a company release.
The initiative has also helped more than 800,000 micro enterprises across agriculture, manufacturing, retail and rural services access digital tools and financial services. Women-led or women-owned businesses account for 60 per cent of these enterprises, the release said.
"India's next phase of economic growth will be shaped by the strength and resilience of its small businesses," said Gautam Aggarwal, President, India & South Asia, Mastercard.
"As digital technologies become increasingly central to commerce, ensuring that entrepreneurs can access the capabilities, networks, and financial tools needed to participate fully in the economy is both an inclusion imperative and a growth opportunity," he added.
Mastercard said its Strive initiative in India has reached over 15 lakh, or 1.5 million, small businesses and individuals since 2021, helping them access digital tools, finance, markets and business networks.
The initiative works through five programmes focused on women entrepreneurs, micro and small enterprises and agriculture-linked businesses.
Under Digital Saksham, implemented in partnership with the Confederation of Indian Industry, more than 300,000 micro and small enterprises have been supported in building digital capabilities and adopting technology.
The Rural Women Chambers of Commerce programme, implemented with the Mann Deshi Foundation, has supported more than 22,000 women entrepreneurs by connecting them with markets, finance, digital tools and business services.
The She Leads Bharat: Udyam programme has supported more than 100,000 women entrepreneurs, while the MANDI programme has reached over 150,000 agri-entrepreneurs by strengthening farmer producer organisations.
"The future of inclusive growth depends on whether small businesses can access and participate in the digital economy," said Subhashini Chandran, Senior Vice President, Social Impact, APEMEA, Mastercard Centre for Inclusive Growth.
"Mastercard Strive in India shows that with the right support, entrepreneurs can build resilience, unlock new opportunities and drive lasting change for their families and communities around them," she added.
Mastercard Strive is a global social impact initiative aimed at helping small businesses improve access to finance, digital tools, markets, information and business networks.
— ANI
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