BSE in collaboration with FICCI to foster the startup and MSME environment

As per news reports, BSE in association with FICCI organised a session to identify the gaps in the existing policies and make suggestions for the existing robust policies to enhance the MSME and startup environment in the country.

The session was initiated to promote the Udyam Sakhi and Udyam Saathi initiatives to foster the micro, small and medium enterprises (MSMEs) sector.

In the session 40 stakeholders including 20 MSMEs presented their ideas and suggestions as well as discussed, their main issues of concern with the ministry.

As per a statement released by BSE, “Some of the concerns that were identified were simplifying the MSME definitions, availability of funds which will result in an improved attitude of lenders and borrowers, pull up payment delays, and increasing market access for MSMEs.”

Some of the other suggestions presented at the session were to create a database of businesses that have a chronic habit of issuing cheques that bounce; digital exchange of documents in the transport industry; to increase digitisation of corporate reporting; not allowing GST reporting waivers; and to fix rating agencies incentives linked to job creation.

BSE MD and CEO Ashish Kumar Chauhan, emphasised at the event that the need of a vibrant ecosystem comprising debt and equity is likely to address the concerns of MSMEs. The BSE facilitates SMEs in raising funds through its dedicated platform for such enterprises ‘BSE SME’ where small companies can list and raise capital, enhance visibility, and create brand value.

In fact, the platform has helped 310 SMEs in raising ₹ 3,300 crore. The exchange further said that it would take all initiatives for the growth of SMEs and the startup ecosystem in the country.

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