The small to medium enterprise (SME) sector is frequently acknowledged by the government as an important engine room for the creation of jobs and the enhancement of economic growth. Such firms represent more than 90% of all businesses and are a major contributor to the country’s GDP. However, access to funds is a challenge faced by these SMEs. In this regard, World Trade Center Kochi joined the National Stock Exchange (NSE) and Group of Technology Companies (GTech) for a session, ‘’Transformational Ideas for SMEs’’.
Mr Ravi Jain, Senior Manager- NSE spoke about NSE and their initiatives for SMEs. He also touched upon the regulatory aspects of getting an SME listed.
Mr Rajendra Kanoongo, JMD- Mark Corporate Advisors Pvt Ltd., Mumbai, was the main speaker and he touched upon the importance of SME listing. Based on the sectors that the participants represented he spoke about the major challenges faced by the companies in the process. He added, that in 2017, out of the 400 SMEs that got listed with NSE, there was not even a single company from Kerala. He was of the opinion that the companies should be clear on their growth strategies and this clarity will come handy when it comes to getting capital and funds for growth. Mr Kanoongo also handled a few cases where companies failed to get listed and according to him NSE receive around 40-60 applications and nearly 70% fail to qualify for listing.
Mr Vivek George, Deputy Manager- World Trade Center Kochi earlier made the opening remarks and welcome address. Mr Sujas Ali, Founder & CEO- AabaSoft & Execom Member, GTech did the speaker introduction. Mr Thomas P. Thomas, CEO- Zyxware Technologies Private Limited & Treasurer, GTech spoke about GTech and its activities in the IT parks of Kerala. Mr Vishnu V. Nair, Manager-Operations and Secretariat in Charge, GTech concluded the session by proposing the vote of thanks.
The event was attended by delegates from various SME companies.