On 27th June, the Andhra Government signed a pact with NSE, the topmost stock exchange, in order to help the states’ MSMEs aka micro, small businesses and medium sized enterprises to raise capital by getting listed on the Bourse’s platform.
According the MoU, MSMEs will be encouraged by the State Government to get listed on NSE Emerge, which is a platform specifically designed for the small and medium sized enterprises. The government will also offer the necessary support, be it financial or otherwise that would be required by these enterprises to get themselves listed.
According to a statement released by NSE the Andhra Pradesh government is also planning to create a fund in order to encourage the investors to invest in the stocks of the fast growing SMEs.
Siddhartha Jain, the Industries, Commerce and Export Promotion Commissioner and Ravi Varanasi, the Chief Business Development Officer of NSE were the ones who signed the MoU at Vijayawada. The occasion on which the pact was signed also happened to be the International Day for MSMEs.
According to NSE, they will be offering full support to the small and medium sized enterprises in the whole process of listing which is turn will help in the capacity building of MSMEs.
Gaining a listing actually helps the enterprises to raise the required capital that would help them to develop and grow while also offering them a visibility on the national level.