Kuala Lumpur: Deputy Minister of Entrepreneur Development and Cooperatives Datuk Seri R. Ramanan has announced a significant allocation of RM100 million through TEKUN Nasional aimed at enhancing the economic empowerment of the Indian community. This was revealed during a special press conference held in conjunction with the Pongal celebration.
According to BERNAMA News Agency, RM50 million of the allocation will be directed through the SPUMI Goes Big financing scheme, with the remaining RM50 million allocated via the Indian Community Entrepreneur Development Scheme (SPUMI). These initiatives are designed to benefit approximately 5,000 Indian entrepreneurs this year, facilitating business expansion in challenging economic conditions.
Ramanan highlighted that previous allocations for SPUMI amounted to RM30 million under Budget 2025. However, under the prime minister’s directive, the focus has shifted towards expanding initiatives for the Indian community. TEKUN will inject an additional RM70 million from its internal funds, bringing the total SPUMI allocation to RM100 million this year, marking the highest amount allocated for the Indian community since 2008.
Indian entrepreneurs interested in securing financing can apply through the TEKUN Nasional website or visit any TEKUN office starting today. SPUMI offers loans ranging from RM1,000 to RM50,000 for eligible applicants, while SPUMI Goes Big provides financing between RM50,000 and RM100,000, with an approval process lasting less than 14 days.
Since its launch in 2008, the initiative has disbursed over RM500 million to 26,804 Indian entrepreneurs nationwide. Last year, RM58.9 million was allocated to 1,863 entrepreneurs under SPUMI, and the SPUMI Goes Big scheme supported 287 entrepreneurs with a total financing of RM12.6 million.
Ramanan emphasized the government’s commitment to ensuring inclusive economic progress and urged the Indian community to take advantage of this opportunity to improve their living standards and contribute to national economic development. He also encouraged entrepreneurs to make regular payments to sustain the initiative and enable more entrepreneurs to benefit in the future.