Commenting on the launch of the SME Exchange, the CII Director General, Mr Chandrajit Banerjee commended the Ministry of MSME and Securities and Exchange Board of India (SEBI), for guiding the bourses and facilitating the way forward for the SMEs to access equity finance. Congratulating the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), for the path breaking initiative, he added that the launch provides a great opportunity for the existing and the greenfield entrepreneurial ventures, besides the investors community, in the SME space.
He added that this was pending on the CII agenda, as an alternate means, to bridge the gap on the availability of finance for the SMEs. It is essential that there are competing segments for SME in the stock market for ensuring that the trading platforms function in the best manner for providing services to SME and the investing public in a cost effective manner. Competition among Stock Exchanges and amongst their segments is essential also for the introduction of new financial products through a process of innovation. Under this environment, SME would be in a better position to foster equitable economic growth and promote inclusive growth.
Reiterating CIIs commitment to work in partnership with all the concerned stakeholders, Mr Banerjee suggested the further need for streamlining procedures related to Market Making and incentivisation for Listing on SME Exchange.
19th March 2012