New Delhi, Feb. 2 -- India's 7.4 million micro, small, and medium enterprises (MSMEs) will soon be beneficiaries of a new Rs.10,000 crore fund, a top-up of an existing fund for startups, and reforms to the government's business invoice portal TReDS.

In her ninth Union budget, finance minister Nirmala Sitharaman proposed a three-pronged approach towards MSMEs, which contribute to about 45% of the country's exports and make up approximately a third of its manufacturing output.

This included a dedicated Rs.10,000 crore SME Growth Fund to create future 'Champions', a top-up to the Self-Reliant India Fund with Rs.2,000 crore to maintain micro enterprises' access to risk capital; and reforms to the TReDS platform.

TReDS (Trade Receivables el...