BSE joins hands with Government of Goa to promote development of SMEs
Mumbai: January 6th, 2023: BSE, India’s premier exchange and the world’s fastest Stock Exchange has signed a Memorandum of Understanding (MoU) with the Government of Goa for the development of SMEs in the state.
BSE is the largest SME Exchange in India with over 400 companies listed on the platform. For over a decade, the BSE SME Exchange has been at the forefront in assisting SMEs to raise equity capital for their growth and expansion, thus helping them blossom into full-fledged companies.
BSE’s association with the Goa government will look at creating awareness amongst SMEs in the state on the benefits of listing on the Exchange as well as guide them on the efficient ways of raising capital through equity infusion. The partnership entails the Department of Industries and Commerce, Goa offering support in mobilizing the SME representatives through the District Industries Centre as well as the State/Regional associations/chambers encouraging their SME members to attend capacity-building programs organized by the Exchange.
Commenting on the association, Shri. Sundararaman Ramamurthy, MD &CEO, BSE, said, ‘SMEs play an important role in the growth of the economy and the BSE SME Exchange was created with a vision and mission of addressing the unmet needs of thousands of SMEs in India. This association with the Government of Goa will play a significant role in opening a plethora of opportunities for small-medium enterprises.”
Speaking on this occasion. Shri. P. Pravimal Abhishek, IAS MD & Director of Goa Industrial Development Corporation, said, “In line with the vision of Hon’ble Prime Minister, Govt. of Goa is committed to providing maximum support to MSMEs. The MoU with BSE is a step in that direction to enable MSMEs access capital markets and raise equity funds. I’m confident that this will bring vibrancy to the MSME sector and generate employment.”
Commenting on this partnership, Shri. Ajay Thakur, Head SME & Startups, said, “Our aim is to reach out to SMEs across the nation and help them raise capital, unlock their value, and create more visibility and transparency for them. All these put together will generate more employment in the country. We look forward to supporting the growth of SMEs in Goa through this partnership and enabling them to gradually shift to the formal economy.”
BSE will also provide training and capacity-building support to District Industries Centre officials and a nodal person will be appointed for providing end-to-end solutions and facilitating SMEs with respect to registration/listing on the platform. Besides, joint seminars will be conducted by both parties to educate the SMEs on listing. BSE in association with different industry associations will conduct at least 10 awareness generation/capacity building and follow-up meets for SMEs will be offered in a span of a year.
BSE (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & now the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE is India’s leading exchange group and has played a prominent role in developing the Indian capital market. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, commodity derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.
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