Minister Ramanan has allocated over RM471.5 million to empower 20,000 Indian entrepreneurs through new financing and training initiatives in two years.
KUALA LUMPUR: In two years as Entrepreneur and Cooperatives Development Minister, Datuk Seri R. Ramanan has led significant reforms, including a record allocation of over RM471.5 million, which opened a new chapter in improving the Indian community entrepreneurs’ socio-economic standing.
This approach, through various high-impact initiatives, has produced and empowered over 20,000 Indian entrepreneurs nationwide, a feat he described as unprecedented.
Ramanan, responsible for the economic affairs of the Indian community, said his primary goal was to elevate their economic standing by laying a strong foundation.
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Ramanan, the Sungai Buloh MP, said special focus was also given to small entrepreneurs, women, youth, and segments of the Indian community that have long required comprehensive support.
He said key strategic programmes such as SPUMI and SPUMI Goes Big under TEKUN Nasional provide access to financing, training, and business mentoring through a RM100 million fund, the highest allocation since 2008, while the Indian Women Entrepreneur Empowerment Programme (PENN) and Bank Rakyat Indian Entrepreneur Financing-i (BRIEF-i) have been allocated RM100 million in funding each.
The entrepreneurship ecosystem for the Indian community has also been strengthened at all levels through initiatives such as Vanigham and Vanigham Plus under SME Bank (RM50 million), the I-BAP SME Corp Matching Grant (RM6 million), SOORIAN by PERNAS (RM54.5 million), and the MADANI Bakti Development Grant by Malaysia Co-Operative Societies Commission (SKM) (RM1 million).
These achievements are further backed by structured programmes such as Vanakam MADANI and the Indian Entrepreneur Empowerment Programme (EIP), he added.
Ramanan also reaffirmed his commitment to listening to the Indian community and ensuring that an inclusive and equitable economic agenda remains a priority in line with Malaysia MADANI’s aspirations.
Meanwhile, Malaysian Associated Indian Chambers of Commerce and Industry (MAICCI) chairman Datuk Seri N. Gobalakrishnan said Ramanan’s leadership has brought new hope to entrepreneurs from the community.
“MAICCI is encouraged by his strong commitment to aid Indian community entrepreneurs. The initiatives launched over the past two years have created many new opportunities. Congratulations and thank you to Datuk Seri Ramanan Ramakrishnan,” he said.
He added that real economic development is measured not only by numbers and statistics but by tangible improvements in people’s lives, such as mothers generating income, students accessing quality education, and small entrepreneurs building sustainable businesses.
Gobalakrishnan, who is also President of the National Chamber of Commerce and Industry of Malaysia (NCCIM), said Ramanan is a leader who consistently engages with all segments of society, irrespective of race, reflecting national leadership and unity.
The impact of these reforms was also recognised by Sathies Supramaniam, operator of Sanwa Tours (M) Sdn Bhd, who has expanded his business through financing from the Vanigham SME Bank initiative.
“In the past, I sought government support specifically for express bus operators, but after Datuk Seri Ramanan announced various initiatives such as SPUMI Goes Big, BRIEF-i, I-BAP SME Corp, and Vanigham, I applied for these initiatives. Now, through this financing, my business has begun to expand significantly,” he said. – Bernama
