KUALA LUMPUR — The Ministry of Entrepreneur Development and Cooperatives (Kuskop) has rolled out a range of targeted initiatives to uplift the Indian entrepreneurial community, with a total allocation nearing RM417 million.
Deputy Minister Datuk Seri R. Ramanan said the funds cover both ongoing and new programmes, including loan schemes and matching grants.
Among the new initiatives introduced in 2024 are the Bank Rakyat Indian Entrepreneur Financing-i (BRIEF-i) programme, with an allocation of RM50 million, and the Business Accelerator Programme for Indian Small Business (i-BAP) under SME Corp, which provides RM6 million in matching grants.
“These programmes represent an additional RM136 million allocation aimed at strengthening Indian entrepreneurs nationwide and helping them scale up their businesses,” he said during the question-and-answer session in the Dewan Rakyat today.
He was responding to a supplementary question from S. Kesavan (PH–Sungai Siput), who had asked whether any new empowerment initiatives for Indian entrepreneurs — particularly non-repayable grants — were being considered under the 13th Malaysia Plan (RMK-13).
Ramanan said that for 2025, the ministry has announced an additional RM50 million each for the BRIEF-i programme, the Skim Pembangunan Usahawan Masyarakat India (SPUMI) Goes Big initiative, and the Prosperity Empowerment and A New Normal for Indian Women (PENN) scheme.
In addition, a new financing initiative — Vanigham Financing for Indian Entrepreneurs — will be introduced with an allocation of RM50 million.
He noted that while most of the assistance is in the form of low-interest loans, these are primarily targeted at entrepreneurs who have moved beyond the B40 income bracket.
“We acknowledge the Honourable Member for Sungai Siput’s suggestion on the need for non-repayable grants. We will study how best to propose suitable grants to support these entrepreneurs,” he added.
On the performance of the initiatives, Ramanan said the PENN programme, implemented through Amanah Ikhtiar Malaysia (AIM), has benefited 7,074 recipients to date, with a non-performing loan (NPL) rate of less than one per cent.
“As for programmes under TEKUN Nasional, including SPUMI and SPUMI Goes Big, a total of 3,470 recipients have received close to RM88.1 million in financing.
“This shows that recipients have not only secured funding but are also demonstrating commendable repayment records,” he said in response to a follow-up question from Salamiah Mohd Nor (PN–Temerloh) on the success rates of SPUMI and PENN. — July 24, 2025