MUMBAI: The Government of Telangana along with GlobalLinker, signed an MOU with BSE (Bombay Stock Exchange) at 3 pm today. Early in 2019, the Industries & Commerce Department had introduced the Telangana State GlobalLinker portal as a way to digitize MSMEs of the state and to help them with their business growth.
The Government of Telangana is focused on creating a conducive eco-system for promoting the growth of the MSMEs of the state. To address challenges that MSMEs face in their day to day operations, the Telangana Government offers various benefits on the portal like – free e-commerce store with a payment gateway and logistics capabilities integrated, the opportunity for buyers and sellers to connect with each other, support exports, and more.
The partnership with BSE, India’s premier exchange came into the picture to address a vital challenge of access to finance and increasing credibility of the MSME. BSE will provide intellectual & manpower support to create awareness about the importance and benefits of listing. Lack of awareness around this subject has led to a lot of preconceived notions that listing involves increased compliance levels, increased costs, and more.
Honorable Principal Secretary, Govt. of Telangana, Shri Jayesh Ranjan said, “We are pleased to partner with BSE, as this engagement will provide the necessary hand-holding support and guidance to the MSMEs of the state. The state has taken various initiatives to provide the required support for MSMEs to expand their operations and become inspiring examples for others to follow. Currently, there are very few MSMEs registered on the stock exchange from Telangana and we would like to see these numbers grow soon.”
Shri Sameer Vakil, Co-founder & CEO, GlobalLinker said, “GlobalLinker is committed to making the business growth of SMEs simpler, more profitable and enjoyable. In doing so, it is partnered with Telangana State Government to digitize SMEs in Telangana. A key to SME growth is access to capital. The arrangement with BSE SME will help Telangana State GlobalLinker members plan their capital raise and better prepare them in improved management of their businesses in time to come.”
Shri Ashishkumar Chauhan, MD & CEO, BSE, said “The MSMEs in the state of Telangana play a vital role in the economic development of the state. They are also one of the major contributors to employment. One of the various challenges MSMEs face is the limited access to an alternative source of finance which increases their dependence on debt capital resulting in distorted capital structures and stifled cash flows. Through this association, MSMEs of the state can have access to equity financing opportunities to grow their business from expansion to acquisition.”
Shri. Ajaykumar Thakur, Head BSE SME & Startups, said, “MSMEs are the backbone of the economy and therefore their growth is prerequisite for the growth of the state and the country. This association will help in creating greater awareness about the benefits of listing amongst MSMEs of Telangana. We are hopeful that this initiative will help in getting a lot of SMEs from the state listed on the BSE SME Platform which will contribute to their growth and generate employment”.
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2014 The Global Indian New Network (TGINN)