BSE links with FICCI to promote MSME sector

By

Isabelle Crossley

Published
Oct 10, 2019

The Bombay Stock Exchange partnered with the Federation of Indian Chambers of Commerce and Industry to encourage growth in the Micro, Small, and Medium Enterprise sector at an event with 40 stakeholders.

The BSE and the FICCI came together to promote the MSME sector with a “brainstorming session”, the BSE posted in a media release on its website. The meeting included around 40 stakeholders and 20 MSMEs.

The meeting allowed MSMEs to give policy suggestions for the sector and discuss the issues they currently face. Some of the concerns identified at the meeting included availability of funds, the need for market access, payment delays, and a need to simplify MSME definitions.

Guests at the meeting included the MSME Ministry’s additional secretary Ram Mohan Mishra and the FICCI’s deputy secretary general Nirankar Saxena. The event also promoted the Union Government’s Udyam Saathi and Udyam Sakhi initiatives for the MSME sector. 

Further suggestions posited at the meeting included creating a database of businesses which often provide cheques that bounce, increasing digitisation of corporate reporting, and increasing the digital exchange of documents in the transport industry among others. The MSME Minister Nitin Gadkari had previously encouraged MSMEs to join the National Stock Exchange and register their businesses in order to take part in government initiatives in order to help India’s economy to grow.