New Delhi, June 2 -- India's micro, small and medium enterprise (MSME) credit portfolio continued to grow in April 2026, but at a slower pace, as global uncertainties began to affect lending momentum, according to a report by credit bureau CRIF High Mark.

The total MSME credit outstanding stood at around Rs 46 trillion at the end of April 2026, marking a 12.8 per cent year-on-year increase. However, growth between December 2025 and April 2026 slowed to 3.1 per cent, compared to 9.7 per cent in the same period last year. The number of active loans declined by 3.5 per cent, reversing the 3 per cent growth seen a year earlier.

Sectoral Trends and Slowdown

The moderation in growth was most visible in manufacturing and trade sectors, which ...