ECLGS Scheme Supports Kerala's MSMEs Amid Economic Challenges
ECLGS scheme a lifeline for Kerala MSMEs, says Rajeev Chandrasekhar

Image: Asianet Newsable
Rajeev Chandrasekhar, the Keralam BJP chief, emphasized the vital role of the Emergency Credit Line Guarantee Scheme (ECLGS) in aiding Kerala's micro, small, and medium enterprises (MSMEs) during global economic uncertainties, particularly due to the West Asia crisis. The scheme has provided over ₹8,405 crore (approximately $1 billion USD) in credit guarantees, helping businesses sustain operations and protect jobs.
- 01Approximately 5.5 lakh MSME loan guarantees have been supported under the ECLGS in Kerala.
- 02The ECLGS has extended over ₹8,405 crore (approximately $1 billion USD) in guaranteed credit to businesses in the state.
- 03Rajeev Chandrasekhar highlighted a testimonial from Shyam of Alibi Global, a startup in Thiruvananthapuram, expressing gratitude for the ECLGS support.
- 04Chandrasekhar noted that Kerala's economy is particularly sensitive to developments in the Gulf region due to its reliance on remittances and trade.
- 05He urged more MSMEs and startups to utilize government initiatives for expansion and job creation.
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Rajeev Chandrasekhar, the Keralam BJP chief, recently underscored the importance of the Emergency Credit Line Guarantee Scheme (ECLGS) in supporting Kerala's micro, small, and medium enterprises (MSMEs) amid global economic challenges, particularly those stemming from the West Asia crisis. The scheme has significantly benefited the state, with approximately 5.5 lakh MSME loan guarantees issued and over ₹8,405 crore (roughly $1 billion USD) in credit extended. Chandrasekhar shared a testimonial from Shyam, a startup founder in Thiruvananthapuram, who expressed gratitude for the timely support received through the scheme, which was crucial during uncertain business conditions.
Chandrasekhar noted that Kerala's economy is closely tied to the Gulf region, making it particularly vulnerable to instability there. He praised the ECLGS as an example of the Modi government's proactive approach to ensuring that entrepreneurs have access to necessary credit and liquidity. He called on eligible MSMEs and startups to take advantage of government initiatives aimed at fostering growth and innovation, emphasizing that timely access to credit is essential for business survival and job protection.
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The ECLGS scheme provides critical financial support to Kerala's MSMEs, enabling them to navigate economic uncertainties and sustain employment.
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