On 21st August, 2021, the government launched Rs 250 crore worth Alternative Investment Fund-UbharteSitaare, for export-oriented small and mid-sized companies.
About the Fund
The fund has been set up by Exim Bank and SIDBI.
It is a mix of structured support, both financial and advisory services through investments in equity or equity like instruments, debt, and technical assistance to the Indian companies.
It will also have a Rs 250 crore Greenshoe Option.
Objectives
To enhance India’s competitiveness in select sectors through finance and extensive handholding support.
To identify and nurture companies having differentiated technology, products or processes, and enhance their export business.
To assist units with export potential, which are unable to scale up their operations for want of finance
To assist existing exporters in widening their basket of products and target new markets through a strategic and structured export market development initiative.
Significance
Identify currently underperforming Indian enterprises which have potential in term of technology, products or processes along with export potential
Help to encourage sector-specific growth in states, such as the “One District One Product” initiative.
