Telangana govt joins hands with BSE, GlobalLinker
BSE will provide intellectual and manpower support to create awareness about the importance and benefits of listing on stock exchanges.
Hyderabad: The Government of Telangana along with GlobalLinker, signed an MoU with the Bombay Stock Exchange (BSE) to address the challenge of access to finance to the MSMEs.
BSE will provide intellectual and manpower support to create awareness about the importance and benefits of listing on stock exchanges.
Early in 2019, the State Industries & Commerce Department had introduced Telangana State GlobalLinker portal as a way to digitise MSMEs and to help them with their business growth. Telangana government is focused on creating a conducive ecosystem for promoting growth of the MSMEs.
Jayesh Ranjan, principal secretary, Industries and IT Department, Government of Telangana, said, “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.”
GlobalLinker has partnered with the Telangana State Government to digitise SMEs in Telangana. A key to SME growth is access to capital and 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, said Sameer Vakil, co-founder & CEO, GlobalLinker.
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 for employment. One of the various challenges MSMEs face is the limited access to alternative sources of finance which increase 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,” added Chauhan.
