NSE EMERGE achieves 200th SME listing milestone
Economic Times Auto
MSMEs to contribute 50% to GDP in next 5 years: Nitin Gadkari
Gadkari added that the sector currently employs about 11 crore people and the government would take this figure to 15 crore in the next 5 years.
Bureau| August 22, 2019
Mumbai: Minister of MSME and Road, Transport and Highways Nitin Gadkari expects the micro, small and medium enterprises (MSME) sector to contribute 50 per cent to the total GDP in the next five years. The sector currently contributes 29 per cent to the country's GDP.
Speaking at the celebration of 200th listing on the NSE’s SME platform EMERGE, Gadkari said, "The MSME sector contributes 29 per cent to country's GDP, and the government plans to take it to 50 per cent in next 5 years."
Gadkari added that the sector currently employs about 11 crore people and the government would take this figure to 15 crore in the next 5 years.
NSE Emerge Platform has helped SMEs raise Rs 3,136 crore, and has a market capitalization of Rs 8,800 crore.
Of the 200 companies listed on NSE Emerge, 22 SMEs have over time migrated to the main board of NSE.
According to unofficial estimates, there are 6 crore MSMEs in the country, Gadkari said.
He said the government has launched 'Udyog Mitra' - to encourage people to register their MSMEs. He added that the government is launching an e-commerce project called 'Bharatcraft' for MSMEs, similar to online shopping portals.
Over the weekend, Gadkari acknowledged delayed payments as a major headache for MSMEs, adding that he was trying to find a solution to the issue.
Mint
NSE gets 200th company listed on its SME platform
Wonder Fibromats was the 200th firm to be listed on the NSE EMERGE SME platform
The listed SMEs on NSE are from 16 states
Anirudh Laskar| 22 August 2019
National Stock Exchange Ltd.’s (NSE's) platform for listing of businesses of small and medium enterprises (SMEs), NSE EMERGE, said it has recorded the listing of the 200th SME on Thursday.
“MSMEs contribute 29% to the country’s GDP. We will take this to 50% in the next five years," said Nitin Gadkari, Minister of Micro, Small and Medium Enterprises and Road Transport and Highways. Wonder Fibromats Ltd was the 200th firm to be listed on the NSE EMERGE platform, while two companies, Madhya Bharat Agro Products Ltd and Krishana Phoschem Ltd, have migrated from the SME platform to the main board of the NSE. The listed SMEs on the NSE are from 16 states, the exchange said in a media statement.
NSE EMERGE, ranked fifth in Global Rankings - Alternative & SME Market, now has 200 companies listed on its SME platform, raising more than Rs. 3,100 crore over the last seven years since its inception in 2012. The market capitalization of these listed small and medium enterprises is in the region of ₹8,800 crore, and 22 SMEs have over time migrated to the main board of NSE, according to the exchange’s statement.
“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 Narendra Modi is looking at this sector as a major growth engine. The sector provides employment to about 11 crore people, we will take this to 15 crore in the next five years. The SME trading platform set up by the NSE can play an important role in this endeavour by helping to raise capital for MSMEs. I am glad that using the NSE EMERGE platform, 200 companies have fuelled their growth plans and nearly 22 companies have migrated to the main board of the NSE," said Gadkari.
Bloomberg Quint
Gadkari Eyes Rs 10 Lakh-Crore Revenue from E-Commerce Project in 2-3 Years
PTI| August 22 2019, 8:18 PM
Union minister Nitin Gadkari on Thursday said the government’s plan to launch Bharatcraft, an ecommerce marketing platform, has the potential to achieve revenue of around Rs 10 lakh crore in the 2-3 years.
“The Bharatcraft portal, which will be on the lines of Alibaba and Amazon, will provide a platform for micro, small and medium enterprises to market and sell their products and in turn boost the sector,” Gadkari said.
Speaking at 200th listing of an small business company ‘Wonder Fibromats’ on NSE EMERGE, Gadkari said, “We want to give a boost to the MSME sector which is currently contributing nearly 29 percent to the manufacturing segment and 40 percent to the exports.”
The MSME sector has the potential to generate additional employment of 5 crore in the next five years. The government has set a target to increase the contribution of MSMEs in the manufacturing sector to 50 percent in the next five years, he added.
Gadkari further said that payments have always been the issue for the MSMEs as the Government and public sectors delay their payments.
“A committee has been set up to study this aspect and we expect the report in the next few days. The government is planning to enable legislation framework, which would help the MSME sector get their payments faster, within 45 days of the bills being due. Any further delay in payments would lead to legal implications,” the minister said.
He said the government will encourage MSMEs to contribute more towards exports, how they could contribute to overall economic growth and also enhance employment potential. There was a need for the MSMEs to come in the mainstream and take advantage of the National Stock Exchange platform for raising funds.
“At a time when we have nearly 6 crore MSMEs in the country, we have only 200 listings on such a platform. There are MSMEs who have larger exposure to exports. I want such companies to come forward and use this instrument. This will boost the sector,” Gadkari said, adding that if small investors start investing in such platform, it will open a new gateway for development.
“Attaining finance from banks is difficult. Government acknowledges the efforts and initiatives taken by NSE to empower these small businesses and launch MSME-specific equity trading platform to enable them to raise capital. This can be an opportunity for MSMEs,” he added.
Speaking at the event, NSE managing director and CEO Vikram Limaye said, “NSE has always been at the forefront of strengthening and supporting small and medium enterprises. We believe the SMEs are crucial not only for economic growth, but also for employment and inclusive growth.”
The event also witnessed the migration of two SME companies Madhya Bharat Agro Products and Krishana Phoschem to the mainboard of NSE. The listed SMEs on NSE are from 16 states.
NSE EMERGE now has 200 companies listed on its SME platform, raising upwards of Rs 3,100 crore over a period of last seven years since its inception in 2012.
The market capitalisation of these listed small and medium enterprises is in the region of Rs 8,800 crore, and 22 SMEs have over time migrated to the main board of NSE.
Hindustan Times
NSE gets 200th company listed on its SME platform
Wonder Fibromats Ltd was the 200th firm to be listed on the NSE EMERGE platform, while two companies, Madhya Bharat Agro Products Ltd and Krishana Phoschem Ltd, have migrated from the SME platform to the main board of the NSE.
Anirudh Laskar |Aug 22, 2019 21:43 IST
National Stock Exchange Ltd.’s (NSE’s) platform for listing of businesses of small and medium enterprises (SMEs), NSE EMERGE, said it has recorded the listing of the 200th SME on Thursday.
“MSMEs contribute 29% to the country’s GDP. We will take this to 50% in the next five years,” said Nitin Gadkari, Minister of Micro, Small and Medium Enterprises and Road Transport and Highways.
Wonder Fibromats Ltd was the 200th firm to be listed on the NSE EMERGE platform, while two companies, Madhya Bharat Agro Products Ltd and Krishana Phoschem Ltd, have migrated from the SME platform to the main board of the NSE. The listed SMEs on the NSE are from 16 states, the exchange said in a media statement.
NSE EMERGE, ranked fifth in Global Rankings - Alternative & SME Market, now has 200 companies listed on its SME platform, raising more than Rs. 3,100 crore over the last seven years since its inception in 2012. The market capitalization of these listed small and medium enterprises is in the region of ₹8,800 crore, and 22 SMEs have over time migrated to the main board of NSE, according to the exchange’s statement.
“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 Narendra Modi is looking at this sector as a major growth engine. The sector provides employment to about 11 crore people, we will take this to 15 crore in the next five years. The SME trading platform set up by the NSE can play an important role in this endeavour by helping to raise capital for MSMEs. I am glad that using the NSE EMERGE platform, 200 companies have fuelled their growth plans and nearly 22 companies have migrated to the main board of the NSE,” said Gadkari.
All India Radio
Nitin Gadkari hopeful of Rs 10 lakh crore revenue from Bharatcraft portal in 2-3 yrs
Bureau| Aug 22, 2019
Union Minister Nitin Gadkari expressed optimism that the government's plan to launch Bharatcraft portal, an e-commerce marketing platform, has the potential to achieve revenues of around 10 lakh crore rupees in the 2-3 years.
He was speaking at 200th listing of an MSME company 'Wonder Fibromats' on NSE EMERGE in Mumbai today. Mr Gadkari said that the Bharatcraft portal, which will be on the lines of Alibaba and Amazon, will provide a platform for MSMEs to market and sell their products and in turn boost the sector.
He said that the government will encourage MSMEs to contribute more towards exports, how they could contribute to overall economic growth and also enhance employment potential. He emphasized the need for the MSMEs to come in the mainstream and take advantage of the NSE platform for raising funds.
He added that the MSME sector has the potential to generate additional employment of 5 crores in the next five years. The government has set a target to increase the contribution of MSMEs in the manufacturing sector to 50 per cent in the next five years.
Mr Gadkari further said that payments have always been the issue for the MSMEs as the Government and public sectors delay their payments. He informed that a committee has been set up to study this aspect and they expect the report in the next few days.
He also informed that the government is planning to enable legislation framework, which would help the MSME sector get their payments faster, within 45 days of the bills being due. He said any further delay in payments would lead to legal implications.
UNI
NSE EMERGE achieves 200th SME listing milestone
Mumbai, Aug 22 (UNI) National Stock Exchange of India Limited (NSE) on Thursday achieved yet another milestone of 200 listings of SME companies on its NSE EMERGE platform, in the presence of Nitin Gadkari, Minister of Micro, Small and Medium Enterprises and Road Transport and Highways.
Mr Gadkari and Mr 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 has become 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 on Thursday migrated from the SME platform to the mainboard of NSE.
IIFL
NSE EMERGE achieves 200th SME listing milestone
NSE EMERGE, ranked 5th in the Global Rankings - Alternative & SME Market, now has 200 companies listed on its SME platform, raising upwards of Rs3, 100cr over a period of last seven years since its inception in 2012.
August 22, 2019 13:58 IST | India Infoline News Service
National Stock Exchange of India Limited (NSE), India’s leading stock exchange celebrated yet another milestone of 200 listings of SME companies on its NSE EMERGE platform, in the presence of Nitin Gadkari Hon’ble Minister of Micro, Small and Medium Enterprises and Road Transport and Highways.
Hon'ble Minister Nitin Gadkari and 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 Rs3, 100cr 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 Rs8, 800cr, and 22 SMEs have over time migrated to the main board of NSE. Hon'ble Minister 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, 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.”
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.
India Education Society
“Currently the MSME contributes 29 % to the country’s GDP. We will take this to 50 % in the next 5 years.” says Nitin Gadkari
August 22, 2019
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.
Sharemanthan
Deal Street Asia
India plans to launch Bharatcraft portal, its own version of Alibaba, Amazon
Ravi Prakash Kumar|August 23, 2019
Modi government is planning a big pre-Diwali gift for the MSME sector. Taking inspiration from ecommerce behemoths like Alibaba and Amazon, the Modi government is planning to launch its own desi version of an e-commerce portal. The government has named the portal Bharatcraft, which will provide a platform for MSMEs to markets and sell their products.
Union minister for MSMEs, Nitin Gadkari on Thursday announced the govt’s ambitious plan to launch Bharatcraft portal while speaking at 200th listing of an MSME company ‘Wonder Fibromats’ on NSE EMERGE.
Gadkari also added that the Bharatcraft portal has a huge potential to generate revenue worth ₹10 lakh crore in next 2-3 years.
“The Bharatcraft portal, which will be on the lines of Alibaba and Amazon, will provide a platform for MSMEs to market and sell their products and in turn boost the sector,” Gadkari said. “We want to give a boost to the MSME sector which is currently contributing nearly 29 per cent to the manufacturing segment and 40 per cent to the exports,” Gadkari said.
The MSME sector has the potential to generate additional employment of 5 crore in the next five years. The government has set a target to increase the contribution of MSMEs in the manufacturing sector to 50 per cent in the next five years, he added. Gadkari further said that payments have always been the issue for the MSMEs as the Government and public sectors delay their payments.
“A committee has been set up to study this aspect and we expect the report in the next few days. The government is planning to enable legislation framework, which would help the MSME sector get their payments faster, within 45 days of the bills being due. Any further delay in payments would lead to legal implications,” the minister said.
He said the government will encourage MSMEs to contribute more towards exports, how they could contribute to overall economic growth and also enhance employment potential.
Business Fortnight
NSE EMERGE achieves 200th SME listing milestone
By News Desk - August 22, 2019
Mumbai, August 22, 2019: 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 Nitin Gadkari Minister of Micro, Small and Medium Enterprises and Road Transport and Highways.
Nitin Gadkari and 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. Gadkari felicitated promoter-entrepreneurs of SMEs listed on NSE EMERGE and also interacted with them and officials at the Exchange.
Speaking on the occasion, Nitin Gadkari 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 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.”
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.
Guru
NSE EMERGE achieves 200 SME listings milestone
Two SME companies shift from SME platform to main board
Bureau|22 August, 2019
The National Stock Exchange of India (NSE), India’s leading stock exchange, on Thursday celebrated yet another milestone of 200 listings of SME companies on its NSE EMERGE platform, in the presence of Union Minister of Micro, Small and Medium Enterprises and Road Transport and Highways, Nitin Gadkari.
Gadkari and NSE MD & CEO Vikram Limaye in the traditional ‘Bell Ringing’ ceremony to signify the listing of the 200th SME company and migration of two SME companies from the SME platform to the main board of NSE.
Wonder Fibromats became the 200th company to be listed on the NSE EMERGE SME platform and Madhya Bharat Agro Products and Krishana Phoschem migrated from the SME platform to the mainboard of NSE. The listed SMEs on NSE are from 16 states.
NSE EMERGE, ranked fifth in global rankings – Alternative & SME Market — now has 200 companies listed on its SME platform, raising upwards of Rs 3,100 crore over a period of last seven years since its inception in 2012. The market capitalisation of these listed small and medium enterprises is in the region of Rs 8,800 crore, and 22 SMEs have over time migrated to the main board of NSE.
Gadkari felicitated promoter-entrepreneurs of SMEs listed on NSE EMERGE and also interacted with them and officials at the Exchange.
Speaking on the occasion, he said the MSME sector has huge potential for generating income and employment, boosting exports and contributing to economic growth in the country. “The government under the leadership of Prime Minister 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 next five years. The sector gives employment to about 11 Crore people currently, we will take this to 15 crore in next five 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 main board of NSE,” he said.
Limaye 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 (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.
This Week India
NSE EMERGE achieves 200th SME listing milestone
Bureau| Aug 22, 2019
August 22, 2019: 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.
KNN India
Govt planning to take MSMEs’ contribution to GDP to 50% from current 29%: Nitin Gadkari
Bureau|22 August 2019
Mumbai, Aug 22 (KNN) The Minister of Micro, Small and Medium Enterprises (MoMSME) Nitin Gadkari said the government is planning to take the contribution of MSME sector to the country’s total Gross Domestic Product (GDP) to upto 50 per cent from the current 29 per cent.
He was speaking at the celebration of listing of 200th company on the National Stock Exchange’s (NSE’s) SME platform EMERGE.
Gadkari said, "The MSME sector contributes 29 per cent to country's GDP, and the government plans to take it to 50 per cent in next 5 years." Gadkari added that the sector currently employs about 11 crore people and the government would take this figure to 15 crore in the next 5 years.
NSE Emerge Platform has helped SMEs raise Rs 3,136 crore, and has a market capitalization of Rs 8,800 crore.
Of the 200 companies listed on NSE Emerge, 22 SMEs have over time migrated to the main board of NSE. According to unofficial estimates, there are 6 crore MSMEs in the country, Gadkari said.
He said the government has launched 'Udyog Mitra' - to encourage people to register their MSMEs.
He added that the government is launching an e-commerce project called 'Bharatcraft' for MSMEs, similar to online shopping portals