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Business Economy

NSE EMERGE achieves 200th SME listing milestone

NSE EMERGE achieves 200th SME listing milestone

Mumbai, Aug 22 (UNI) National Stock Exchange of India Limited (NSE) on Thursday achieved yet another milestone of 200 listings of SME companies on its NSE EMERGE platform, in the presence of Nitin Gadkari, Minister of Micro, Small and Medium Enterprises and Road Transport and Highways.

Mr Gadkari and Mr Vikram Limaye, MD & CEO, NSE participated in the traditional ‘Bell Ringing’ ceremony to signify the listing of the 200th SME Company and Migration of 2 SME Companies from the SME platform to the Main board of NSE.

Wonder Fibromats Limited has become the 200th company to be listed on the NSE EMERGE SME platform and two companies Madhya Bharat Agro Products Limited and Krishana Phoschem Limited have on Thursday migrated from the SME platform to the mainboard of NSE.

The listed SMEs on NSE are from 16 states.

Speaking on the occasion, Mr Gadkari said, 'The MSME sector has huge potential for generating income and employment, boosting exports and contributing to economic growth in the country. The present Government under the leadership of Prime Minister Shri Narendra Modi is looking at this sector as a major growth engine. Currently the MSME contributes 29 pc to the country’s GDP. We will take this to 50 pc in the next 5 years. The sector gives employment to about 11 Crore people currently, we will take this to 15 crore in the next 5 years. The SME Trading Platform set up by NSE can play an important role in this endeavour by helping to raise capital for the MSME enterprises'.

Vikram Limaye, MD & CEO, NSE said, 'NSE has always been at the forefront of strengthening and supporting the small and medium enterprises. From conventional manufacturing companies to new economy start-ups, NSE has always endeavored to create a vibrant capital raising environment. NSE believes that Small and Medium Enterprises (SMEs) are crucial not only for economic growth, but also for employment and inclusive growth.'

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