KUALA LUMPUR: The government is set to implement further initiatives to strengthen the economy of the Indian community in the coming year, says Datuk Seri R. Ramanan.
The Deputy Entrepreneur and Cooperatives Development Minister said this is to ensure that the community’s economic development aligns with the national development process, as directed by Prime Minister Datuk Seri Anwar Ibrahim.
"The Prime Minister has suggested that the Entrepreneur and Cooperatives Development Ministry create more initiatives for the Indian community.
"He has also instructed me to mobilise and develop programmes that can benefit the Indian community through other government agencies," said Ramanan.
Ramanan, who is also the Sungai Buloh MP, said that the Madani government’s commitment to improving the well-being of the community in the country has been evident through various initiatives conducted in 2024.
Ramanan further revealed that the seven initiatives introduced by the ministry have had a positive impact so far, and in the coming year, steps will be taken to enhance and add value to these programmes.
"In 2024, through the Vanakam Madani 0initiative, the government distributed RM3.17mil in financial aid to 90 Indian community houses of worship nationwide," Ramanan stated.
Ramanan added that to boost the community’s economy in line with the Madani Economy framework, RM60mil was allocated through the National Entrepreneurial Group Economic Fund (Tekun) for the Indian Community Entrepreneur Development Scheme (SPUMI) and SPUMI Goes Big.
As a result, 2,370 entrepreneurs benefited, with RM57.977mil in assistance disbursed as of Dec 23.
"Furthermore, 3,285 women entrepreneurs were assisted under the Prosperity, Empowerment, and A New Normal (PENN) programme by Amanah Ikhtiar Malaysia (AIM), with an allocation of RM30.34mil," said Ramanan.
Additionally, 451 entrepreneurs from the Indian community benefited from the Bank Rakyat Indian Entrepreneur Financing-i programme (BRIEF-i), which received an allocation of RM50mil.
He also mentioned that the ministry, through SME Corp, launched the Business Accelerator Programme (I-BAP), with RM6mil allocated for the initiative, to strengthen small businesses owned by the Indian community.
In an effort to develop talent and skills, the Empowering Indian Entrepreneur (EIP 2024) programme was also launched, focusing on entrepreneurship training, artificial intelligence (AI), finance, and social media.
Ramanan concluded by urging the Indian community to remain united, emphasising that this would ensure a brighter future – Bernama.
