SGCCI Pushes for Relief on MSME Loans Amid Global Trade Crisis

Surat | Gujarat — Amid rising global uncertainty and disruptions in West Asia, Surat’s business community has urged the Gujarat government to provide urgent financial relief to micro, small and medium enterprises (MSMEs) struggling with liquidity stress and rising operational costs.

The Southern Gujarat Chamber of Commerce and Industry (SGCCI) has formally written to Chief Minister Bhupendra Patel, seeking a complete waiver or substantial reduction in stamp duty on mortgage deeds for loans under the Centre’s ECLGS 5.0 (Emergency Credit Line Guarantee Scheme).

SGCCI President Ashok Jirawala highlighted that ongoing geopolitical tensions are severely affecting supply chains, export orders, and freight costs, placing additional pressure on industries across Gujarat, especially in Surat’s textile and diamond sectors.

“MSMEs are currently facing working capital shortages, delayed payments, and rising production costs. In such a situation, easing the stamp duty burden will significantly improve access to credit,” Jirawala stated in the representation.

He further noted that while ECLGS 5.0 is designed to inject liquidity into stressed businesses, the requirement of mortgaging property and paying high stamp duty is becoming an additional financial hurdle for entrepreneurs.

According to SGCCI, removing or reducing stamp duty will not only make bank loans more accessible but also ensure that industrial units continue operations despite global economic slowdown pressures. The chamber believes such a step will reinforce Gujarat’s reputation as a business-friendly state.

Copies of the representation have also been sent to state Home Minister Harsh Sanghavi, Finance Minister Kanubhai Desai, and senior officials in the Revenue and Finance departments, urging swift policy action.

“Timely intervention by the government can safeguard lakhs of jobs and protect MSME growth in this challenging environment,” Jirawala added, expressing optimism that the Chief Minister will consider the demand positively.

The industry body has emphasised that immediate relief could help stabilise exports, sustain factory operations, and strengthen the overall resilience of Gujarat’s MSME ecosystem.