“Currently the MSME contributes 29 % to the country’s GDP. We will take this to 50 % in the next 5 years.” says Nitin Gadkari
New Delhi: National Stock Exchange of India Limited (NSE), India’s leading stock exchange today celebrated yet another milestone of 200 listings of SME companies on its NSE EMERGE platform, in the presence of Shri Nitin Gadkari Hon’ble Minister of Micro, Small and Medium Enterprises and Road Transport and Highways.
Hon’ble Minister Shri Nitin Gadkari and Shri Vikram Limaye, MD & CEO, NSE participated in the traditional ‘Bell Ringing’ ceremony to signify the listing of the 200th SME Company and Migration of 2 SME Companies from the SME platform to the Main board of NSE. Wonder Fibromats Limited became the 200th company to be listed on the NSE EMERGE SME platform and two companies Madhya Bharat Agro Products Limited and Krishana Phoschem Limited have today migrated from the SME platform to the mainboard of NSE. The listed SMEs on NSE are from 16 states.
NSE EMERGE, ranked 5th in the Global Rankings – Alternative & SME Market, now has 200 companies listed on its SME platform, raising upwards of INR 3,100 crore over a period of last seven years since its inception in 2012. The Market Capitalization of these listed small and medium enterprises is in the region of INR 8,800 crores, and 22 SMEs have over time migrated to the main board of NSE.
Hon’ble Minister Shri Gadkari ji felicitated promoter-entrepreneurs of SMEs listed on NSE EMERGE and also interacted with them and officials at the Exchange.
Speaking on the occasion, Shri Nitin Gadkari, Hon’ble Minister of Micro, Small and Medium Enterprises and Road Transport and Highways said, “The MSME sector has huge potential for generating income and employment, boosting exports and contributing to economic growth in the country. The present Government under the leadership of Prime Minister Shri Narendra Modi is looking at this sector as a major growth engine. Currently the MSME contributes 29 % to the country’s GDP. We will take this to 50 % in the next 5 years. The sector gives employment to about 11 Crore people currently, we will take this to 15 crore in the next 5 years. The SME Trading Platform set up by NSE can play an important role in this endeavour by helping to raise capital for the MSME enterprises. I am glad that using the NSE EMERGE platform, 200 companies have fuelled their growth plans and nearly 22 companies have migrated to the mainboard of NSE.”
Shri Vikram Limaye, MD & CEO, NSE said, “NSE has always been at the forefront of strengthening and supporting the small and medium enterprises. From conventional manufacturing companies to new economy start-ups, NSE has always endeavored to create a vibrant capital raising environment. NSE believes that Small and Medium Enterprises (SMEs) are crucial not only for economic growth, but also for employment and inclusive growth.”
Receivables Exchange of India Limited (RXIL), jointly promoted by NSE and SIDBI is also supporting MSMEs through the TReDS Platform. RXIL, operates India’s first TReDS Platform. RXIL integrates MSMEs with their Buyers (PSUs / Govt. Departments (Central & State) / Corporates) and multiple financiers on the same platform and provides cost efficient and timely financing its MSMEs and SMEs.