Industries & Commerce Department, Government of Telangana joins hands with BSE & GlobalLinker to help MSMEs raise equity funds
Mumbai, October 19, 2020: The Government of Telangana along with GlobalLinker, signed an MOU with BSE (Bombay Stock Exchange) at 3pm today. Early in 2019, the Industries & Commerce Department had introduced Telangana State GlobalLinker portal as a way to digitize MSMEs of the state and to help them with their business growth.
The Government of Telangana is focused on creating a conducive eco-system for promoting growth of the MSMEs of the state. To address challenges that MSMEs face in their day to day operations, the Telangana Government offers various benefits on the portal like – free e-commerce store with a payment gateway and logistics capabilities integrated, opportunity for buyers and sellers to connect with each other, support exports and more.
The partnership with BSE, India’s premier exchange came into picture to address a vital challenge of access to finance and increasing credibility of the MSME. BSE will provide intellectual & manpower support to create awareness about the importance and benefits of listing. Lack of awareness around this subject has led to a lot of preconceived notions that listing involves increased compliance levels, increased costs and more.
Honorable Principal Secretary, Govt. of Telangana, Shri Jayesh Ranjan said, “We are pleased to partner with BSE, as this engagement will provide the necessary hand-holding support and guidance to the MSMEs of the state. The state has taken various initiatives to provide the required support for MSMEs to expand their operations and become inspiring examples for others to follow. Currently there are very few MSMEs registered on the stock exchange from Telangana and we would like to see these numbers grow soon.”
Shri Sameer Vakil, Co-founder & CEO, GlobalLinker said, “GlobalLinker is committed to make the business growth of SMEs simpler, more profitable and enjoyable. In doing so, it is partnered with Telangana State Government to digitise SMEs in Telangana. A key to SME growth is access to capital. The arrangement with BSE SME will help Telangana State GlobalLinker members plan their capital raise and better prepare them in improved management of their businesses in time to come.”
Shri Ashishkumar Chauhan, MD & CEO, BSE, said “The MSMEs in the state of Telangana play a vital role in the economic development of the state. They are also one of the major contributors for employment. One of the various challenges MSMEs face is the limited access to alternative source of finance which increase their dependence on debt capital resulting in distorted capital structures and stifled cash flows. Through this association, MSMEs of the state can have access to equity financing opportunities to grow their business from expansion to acquisition.”
Shri. Ajaykumar Thakur, Head BSE SME & Startups, said, “MSMEs are the backbone of the economy and therefore their growth is prerequisite for the growth of the state and the country. This association will help in creating greater awareness about benefits of listing amongst MSMEs of Telangana. We are hopeful that this initiative will help in getting a lot of SMEs from the state listed on the BSE SME Platform which will contribute to their growth and generate employment”.
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 is a corporatized and demutualized entity, with a broad shareholder base that includes the leading global exchange- Deutsche Bourse, as a strategic partner. 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.
BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful. BSE also has a dedicated MF distribution platform BSE StAR MF which is India Largest Mutual Funds Distribution Infrastructure. On October 1, 2018, BSE launched commodity derivatives trading in Gold, Silver, Copper, Oman Crude Oil Guar Gum, Guar Seeds & Turmeric.
BSE provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE’s systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments.
Indian Clearing Corporation Limited, a wholly owned subsidiary of BSE, acts as the central counterparty to all trades executed on the BSE trading platform and provides full novation, guaranteeing the settlement of all bonafide trades executed. BSE Institute Ltd, another fully owned subsidiary of BSE runs one of the most respected capital market educational institutes in the country. Central Depository Services Ltd. (CDSL), associate company of BSE, is one of the two Depositories in India.
BSE has set up an Investor Protection Fund (IPF) on July 10, 1986 to meet the claims of investors against defaulter Members, in accordance with the Guidelines issued by the Ministry of Finance, Government of India. BSE Investor Protection Fund is responsible for creating Capital markets related awareness among the investor community in India.
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