IFCI Limited and FISME have jointly established a Center of Excellence to support the growth and development of Small and Medium Enterprises (SMEs) in India. The Center will focus on providing equity and technology solutions to help SMEs scale up and compete globally.

The initiative was inaugurated by Dr. Vivek Joshi, Secretary of the Department of Financial Services, who emphasized the importance of this collaboration in strengthening the MSME sector. A handbook on "Making Aspiring Small & Medium Enterprises Ready for External Equity" was also released during the event.

The Centre will offer a range of services, including access to equity capital, technology solutions, and policy advocacy. It aims to remove hurdles faced by SMEs in their growth journey and encourage them to transition from small to medium-sized enterprises.

A Memorandum of Understanding was signed with the Korean Small & Medium Enterprises Association to explore collaboration opportunities between Indian and South Korean SMEs. Additionally, IFCI's subsidiary, Stock Holding Corporation of India, presented an impact report on its e-Stamping business.

The event brought together a diverse group of stakeholders, including MSMEs, financial institutions, stock exchanges, and industry associations, to discuss the challenges and opportunities facing the SME sector.