Mumbai, Oct. 31 -- Non-banking financial companies (NBFCs) could play a larger role in financing Maharashtra's micro, small and medium enterprises (MSMEs), as well as emerging areas such as climate and transition finance, by leveraging technology and new risk-sharing mechanisms, said Aman Mittal, Joint CEO, Maharashtra Institution for Transformation (MITRA).

Mittal said the state's ambition to become a USD 1 trillion economy would require substantial private investment, with public sources expected to contribute only a small share of the overall requirement.

He identified strengthening resilience in the MSME sector and improving credit access for businesses with difficult-to-quantify risks as key challenges, reported The Economic Times....