Government’s I-BAP initiative boosts 35 Indian-owned businesses with financial aid and advisory support, driving SME growth towards Malaysia’s GDP targets
The Malaysian Government has reaffirmed its commitment to strengthening Indian-owned micro, small, and medium enterprises (MSMEs) through the Ministry of Entrepreneur Development and Cooperatives (KUSKOP) and its agency, SME Corp. Malaysia.
In 2025 alone, grants totalling RM2.01 million have been approved for 35 Indian-owned companies under the Indian-Owned Business Accelerator Programme (I-BAP). This initiative aims to enhance the capacity of Indian-owned enterprises by providing business advisory services and matching grants of up to RM100,000.
A special meet-and-greet and grant offer letter presentation ceremony was held yesterday at SME Corp. Malaysia, graced by Deputy Minister of Entrepreneur Development and Cooperatives, YB Dato’ Sri Ramanan Ramakrishnan. The event not only marked the disbursement of grants but also created opportunities for networking and fostering stronger collaboration between SME Corp. Malaysia and the recipients.
Speaking at the event, YB Dato’ Sri Ramanan Ramakrishnan said:
“Today, 31 grant recipients under the I-BAP programme will receive offer letters with allocations ranging from RM7,000 to RM100,000 depending on their project scope. With this year’s approvals, the total value of I-BAP grants since its inception in October 2024 has reached RM5.13 million, benefiting 85 Indian-owned companies.”
Despite the programme’s budget nearing full utilisation, the Government remains committed to supporting MSMEs — including those owned by the Indian community — particularly in the run-up to Malaysia’s 13th Plan (RMK13), which targets increasing SMEs’ contribution to the national GDP to 50%.
SME Corp. Malaysia Chief Executive Officer, YBrs. Rizal bin Dato’ Nainy, noted that I-BAP is an extension of the Business Accelerator Programme (BAP) launched in 2011. He described it as a proactive effort to expand the reach of business advisory services and financial assistance to Indian entrepreneurs while strengthening the socio-economic development of the Indian MSME community.
For more details on SME Corp. Malaysia’s programmes and initiatives, visit www.smecorp.gov.my or follow their official social media channels.
