Piyush Goyal urges BSE to set up interface with startup ecosystem

Commerce Minister Piyush Goyal on Monday urged the Bombay Stock Exchange (BSE) to create an interface with the startup ecosystem. This will help them grow faster and encourage domestic capital into the startups, he said.

Goyal said this while attending the listing celebration of the 400th company in BSE SME platform in Mumbai.

With the listing of eight new companies in the exchange's SME platform, the BSE SME platform has achieved the milestone of 400 listed companies.

The minister also rang the ceremonious bell to mark the special occasion.

Speaking on the occasion, Goyal said: "Indian investors are able to hold the Indian market strong. This has demonstrated the equity culture and that capacity of Indian investors to take risks has increased."

BSE could also offer technology services to the companies which could add lustre to the SME exchange, he added.

BSE Ltd had set up the BSE SME platform in March 2012 as per the rules and regulations laid down by SEBI.

It offers an entrepreneur and investor friendly environment, which enables listing of SMEs from the unorganised sector scattered throughout India, into a regulated and organised sector.

The listed SMEs step into the threshold of BSE SME Platform and foray in to the world of finance for further growth and development.

BSE SME assists small and medium enterprises in raising equity capital for their growth and expansion, which would help them turn into full-fledged companies.

In due course, this would enable such entities to migrate into the Main Board of BSE as per the existing rules and regulations.

--IANS

ans/pgh