MUMBAI: Country's biggest bourse Bombay Stock Exchange (BSE) is has launched the first-ever SME Index today, dubbed as BSE SME IPO Index, in the Indian capital markets.
The index dedicated to Small and Medium enterprises (SMEs) has been inaugurated by KH Muniyappa, Minister of State with Independent Charge, Ministry of MSME and Rajeev Kumar Agarwal, whole time member, SEBI Bell Ringing ceremony.
BSE SME IPO Index will enable investors to track performance of the SMEs listed on BSE SME Platform.
On the occasion, KH Muniyappa, said, “The MSME Sector of our country contributes to around 40% of India’s exports and employs about 80 million people. With the launching of BSE SME IPO Index today, we have gone one step further to facilitate investor capital and create wealth for the all the stakeholders. The stock exchange should provide necessary support for skill development in this sector and work to provide safety mechanism to SME investors in the segment which would then lead to exponential growth in this sector. The government has generated 1.50 crore employment opportunities in India in the 12th Plan. The Government of India has come out with many other plans to promote MSME Sector in India which not only enables economic growth but also creates jobs and welfare of the population in general. The Government has created 1.1 crore jobs in the Khadi Institutions in the country which employ rural masses in large numbers and help create
opportunities in rural areas making them self sustainable and thereby mitigating migration to urban areas. Under the flagship program of the UPA Government, i.e. Pradhan Mantri Employment Generation Program (PMEGP), the government is targeting to create about 4 lakhs entrepreneurs under PMEGP creating employment opportunities for about 32 lakh persons in the 12th Plan. Under Skill Development Program of the MSME Ministry, we have trained about 20 lakh persons for self employment and this has been upscaled to 42 lakhs skilled training for the 12th Plan period.”
Ashishkumar Chauhan, MD & CEO of BSE said “BSE is proud to take a step forward and introduce the first-ever BSE SME IPO index in the country – BSE SME IPO Index. The Index aims to track primary market conditions in the Indian capital market and measure the growth in investors’ investments in SMEs equities, over a period of time. BSE SME Platform has made available, an effective source of raising equity capital for growth of huge population of SMEs in the country. BSE SME IPO Index is expected to guide them and various intermediaries in the capital market as well as investors in this respect.”