The government of India has initiated a new project to boost the street vendors' economy in the country. An official announcement from the Government of India said the SMILE – SVEP programme is being implemented to provide training and financial inclusion and arrangement in the market for vendors, under the umbrella of the PM Street Vendor’s AtmaNirbhar Nidhi (PM-SVANidhi) programme.

Street Vendors Programme (SVEP) aims to strengthen urban street vendors, one of the most vulnerable sectors of the informal economy, by providing the tools needed to create more sustainable companies, skill enhancement, and stability in income. A formal launch of the initiative took place by the Ministry of Housing and Urban Affairs, with a focus on building entrepreneurial capacity of the vendors, focusing on women and persons from marginalised groups.

The scheme involves support measures to build skills and linkages to local markets and digital platforms, in addition to mentoring, for eligible vendors to support their growth. Improved access to credit is also provided for in the programme as a way for vendors to invest in equipment and stocks, as well as other essentials that can help boost business productivity.

SMILE–SVEP was presented by the officials as a step that will benefit informal workers to move towards the formal sector’s involvement in the economy while they sustain their traditional livelihood, without losing it. The scheme plans to help the street vendors to shift from activities of earning a living to making street vending a legitimate micro-enterprise with the help of hand-holding support and business development assistance.

It is hoped that the programme will help millions of vendors learn enterprise development, product design, the basics of accounting, customer service, and more. Moreover, the market linkages and digital literacy elements are designed to extend the vendors' competitiveness and enable them to get into a bigger value chain.

The implementation of SMILE-SVEP, according to them, would be carried out in conjunction with urban local bodies, industrial stakeholders, financial agencies, and civil society organizations, and that SMILE-SVEP would be implemented through the initiative of the government alone. Proper monitoring and controlling measures will guarantee successful implementation and improvement.

SMILE-SVEP is a part of the efforts being made to promote economic inclusion, and it is only one aspect of a larger strategy to help vulnerable groups of workers and promote grassroots entrepreneurship and economic development in the country.