The Union Cabinet chaired by Prime Minister Narendra Modi on Tuesday approved the government's  Rs 10,000 crore commitment to SME Growth Fund, aimed at catalysing growth-oriented capital for India's Small and Medium Enterprises (SMEs) to make them capable of competing globally.

The fund was part of the announcement in the FY27 Budget that sought to provide equity, liquidity and professional support for the MSME ecosystem as a whole,  an official statement said.