Kerala’s ‘We Mission’ project helps scale up women-led ventures

Rs 748.43 lakhs sanctioned under scheme to augment capital

Trivandrum / December 21, 2023

Thiruvananthapuram, Dec. 21: The ‘We Mission’ project of the Kerala Government has further empowered women entrepreneurs across the state by providing them additional capital and a slew of other supports to scale up their ventures by augmenting production, diversification and marketing.

The scheme, implemented by Kerala State Industrial Development Corporation Ltd. (KSIDC), has elicited good response from women entrepreneurs, especially from the Micro, Small and Medium Enterprises (MSMEs), after making it more attractive and easier to avail.

‘We Mission’ was launched by KSIDC to provide loans to existing women entrepreneurs in the manufacturing/service business using industrial machinery with average turnover of Rs 10 lakhs and above to facilitate their expansion, modernisation and diversification related targets / goals.

The loan shall be given to proprietorship, partnership firms, limited liable partnerships and private limited companies owned and managed by women. 

Minister for Industries, Law and Coir Shri P. Rajeeve had announced the doubling of loan scheme at the Women Entrepreneurship Summit. As per this assurance, the loan amount of Rs 25 lakhs of the ‘We Mission’ scheme by KSIDC for women entrepreneurs in production sector was increased to Rs 50 lakhs with 7.5 percent interest. The tenure of loan shall be limited to a period of 5-6 years, including a moratorium up to six months from the date of sanctioning of loan. 

The scheme has already helped a large number of women entrepreneurs overcome difficulties in meeting financial requirements to convert their ideas into viable business models.

The ceiling on loan to be provided under the scheme was doubled with the special intention of ensuring enhanced support to women entrepreneurs. Since its launch in 2017-18, KSIDC has till date sanctioned Rs 748.43 lakhs under the scheme, which included Rs 148.66 lakhs provided so far this year, with the final figures envisaged to be much higher.

Shri S Harikishore, MD, KSIDC and Director (DI&C), said that the ‘We Mission’ initiative was modified to extend its benefits to more women in the entrepreneur fraternity, increase its acceptance and encourage more women to take up entrepreneurship.

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