BSE
BSE signs MoU with Electronics and Computer Software Export Promotion Council
Kolkata: BSE, a Stock Exchange with a speed of 6 microseconds, has on Tuesday signed a memorandum of understanding (MoU) with Electronics and Computer Software Export Promotion Council (ESC) to create awareness about benefits of listing among ICT SMEs and Startups of the country.
Electronics and Computer Software Export Promotion Council (ESC) is an organization sponsored by the Government of India with a mandate to promote export of Information and Communications Technology (ICT) sector from the country and works as a bridge between the Government and the Industry on policy / promotional matters.
With a strong membership of over 2300 ICT exporters covering the entire gamut of Electronics and IT industry in the areas like Consumer Electronics, Components, Instrumentation, Telecommunications, Computer Hardware and Peripherals, Computer Software and IT-enabled Services.
Through this MoU, ESC shall utilize its pan India network of Electronics and IT Exporters and evaluate the SMEs and Startups amongst these for listing on BSE SME and Startup exchange. ESC shall also assist in sensitizing its investor network for investing in SMEs listed on BSE SME exchange. Besides, as a joint effort, BSE and ESC shall collectively host joint road shows and events across India to create awareness and promote listing of SMEs & Startups on BSE SME & Startup exchange.
Commenting on this collaboration, Ajay Thakur, Head-BSE SME & Startup, said, “This MoU will help us in reaching out to ESC’s pan India network of Electronics and IT exporters and create greater awareness amongst the SMEs & Startups about benefits of listing on the BSE SME & Startup platform. Considering the economic impact of Covid-19 pandemic, it will further encourage more and more SMEs & Startups to list and raise equity capital on the exchange to expand and grow their business”.
Sandeep Narula, Chairman of Electronics and Computer Software Export Promotion Council, said, SMEs, especially the IT SMEs are now exposed to greater opportunities than ever for expansion and diversification across the sectors. The Indian IT industry, despite initial hiccups, remained resilient during the current crisis and its response will go a long way in cementing stronger partnerships with global clients.
Despite its commendable contribution to the Nation’s Economy, SMEs sector does not get the required support and still face a number of problems with inadequate credit, limited capital and knowledge being on the top. Institutional linkages between the BSE and ESC will address this important issue for Indian ICT SMEs members of the Council, added Mr Narula.
BSE became the first stock exchange to get the approval from SEBI and had launched its SME platform on March 13, 2012. So far 337 companies listed on BSE SME Platform have raised Rs. 3,497.52 crore from the market and total market capitalization of 337 companies as on May 25, 2021 is Rs. 26,314 Crore. Out of which 99 companies are migrated to BSE Main Board. BSE is the market leader in this segment with a market share of 61 percent.
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