India’s ₹50,000 cr MSME fund ends up backing tech startups instead of manufacturers
The Self‑Reliant India (SRI) Fund, a ₹50,000‑crore scheme meant to direct venture‑style capital to traditional MSMEs ignored by VCs, has invested over ₹16,000 crore in 750 firms, but around 70% are tech‑focused, with only 30% in manufacturing. The shift reveals the difficulty of steering private capital away from the tech bias the fund was created to counter.