Bhubaneswar: India s economy is growing at an exponential pace, and the major contributor the growth is the msme sector. It accounts for 45 % of total industrial production, 40% of total exports and contributes very significantly to the GDP. As per available data, It is expected to grow at 7.2% in FY 2023 (RBI). The success of the self-reliant economy is conditioned on the growth of the MSME sector.
Inspite of the buoyancy the sector exhibits, the players within face many challenges, primarily fund availability that are required to address critical areas of operations.
To address the issue, the Prime Minister’s Task Force in the beginning of the year 2010 recommended the setting up of a dedicated Stock Exchange/ Platform for SMEs. SEBI laid down the regulations for the governance of SME Platform. As per the guidelines, The Bombay Stock Exchange and the National Stock Exchange have established BSE SME Platform and EMERGE respectively.
The Stock Exchanges are working constantly towards making the platform beneficial for companies to develop & grow by raising funds from Capital Market.
SME IPOs (Initial Public Offerings) have become the most attractive format for raising capital. A lot many SME Enterprises who raised money using the platform are witnessing unparalleled expansion & witnessing their market cap grow multifold. According to available data, About Rs 4500 crores (Rs Four Thousand Five Hundred Crores) has been raised through the platform in the current year, 2023
But there are still hindrances that is being witnessed in terms of knowledge about the attractive format of the platform, asstill many doubts persist in the minds of promoters Inspite of their intent to tap them.
To create more awareness about the benefits and add more credible players in the system, Mamta Binani & Associates a renowned CS practicing firm led by its Mentor Dr.Mamta Binani, Past President of ICSI along with MSME DF WB & Asian African Chamber of Commerce have been actively organizing knowledge sessions, conclaves & workshops across the Eastern & North East Region States very successfully with a lot many SME Entities participating & expressing keen interest to tap the platform to accelerate a bigger growth path. Both NSE Emerge & BSE SME Platform have been supporting the initiative with their active participation in the sessions.
According to Mamta Binani who is also the president of MSME DF WB & Asian African Chamber of Commerce for East & North East, “there is a huge opportunity for the players from the SME sector in Odisha to tap the platform & harness huge growth which will be beneficial to the overall health of the state’s as well the nation’s economy.She further elaborates ” We are on a mission to build awareness & support the SME sector players grow, thus speeding up the process of India Rising.”
