Fostering Entrepreneurship: Credit Guarantee Schemes for Startups in India

Startups are the lifeblood of any economy, driving innovation, creating employment opportunities, and contributing to economic growth. In India, the startup ecosystem has witnessed significant growth in recent years, with thousands of young entrepreneurs pursuing their dreams. However, access to finance remains a critical challenge for many startups, especially those without a substantial financial track record. To address this issue, the Ministry of Commerce and Industry has introduced Credit Guarantee Schemes (hereinafter referred to as “CGS”) tailored for startups, providing them with the financial support they need to thrive.