NSE and Government of Andhra Pradesh sign MOU to fuel growth of MSME’s in the State
Pune, 27 June, 2017: On the occasion of the International day for MSME’s on June 27th, India’s leading stock exchange, the National Stock Exchange of India Ltd. (NSE) and the Government of Andhra Pradesh have signed a Memorandum of Understanding (MOU) to help catapult MSME’s in the State to the next level of growth.
As part of the understanding, NSE will support the efforts of the Government of Andhra Pradesh in enhancing the financing opportunities for MSME’s in the State, through listing on NSE’s dynamic and thriving SME platform, NSE Emerge.
On its part, the Government of Andhra Pradesh shall facilitate MSMEs to get listed on the NSE Emerge, by supporting such MSMEs financially or otherwise, in bearing the expenses related to listing. A fund is also being created by the AP Government, to encourage investors in invest in the fast growing SME’s in the State, on the exchange platform.
June 27this designated by the United Nations as International MSME day, to celebrate the pivotal role played by MSMEs in achieving Sustainable Development Goals. The day’s events by the Andhra Pradesh government were inaugurated by the Chief Minister Mr. N Chandrababu Naidu. As part of the AP government and NSE’s commitment to the development of MSME’s, the MOU was signed between Mr. Siddhartha Jain, Commissioner, Industries, Commerce & Export Promotion, Government of Andhra Pradesh and Mr. Ravi Varanasi Chief Business Development Officer, NSE at Vijaywada, a prominent, SME cluster.
Mr. Siddhartha Jain, Commissioner, Industries, Commerce & Export Promotion, Government of Andhra Pradesh said “The NSE and the Government of Andhra Pradesh have agreed on the importance of the development of the MSME sector in Andhra Pradesh and welcome mutual cooperation for improving the financing opportunities for MSMEs in the State. We are confident that MSME’s in the State will benefit immensely by listing on NSE Emerge.”
Mr. Ravi Varanasi Chief Business Development Officer, NSE said, “NSE and the Government of Andhra Pradesh share their commitment to the development of MSME’s in the State. The exchange and AP government will be doing joint awareness sessions, in coordination with the District Industries Centers (DICs) and local associations in various SME clusters of the State, to explain the benefits of listing to entrepreneurs.”
NSE will be handholding SME’s through the process of listing, thereby facilitating capacity building for the MSME’s. Listing helps companies to get better access to capital for their expansion and growth, provides visibility to local companies at the national level, gives them high credibility and unlocks valuation.
More than 80 companies are listed on NSE’s SME platforms.
