Coimbatore: Rules for listing companies on the stock exchange have been simplified, and approvals have been granted to 180 MSMEs for listing in 179 days, said Sundararaman Ramamurthy, managing director and CEO of the Bombay Stock Exchange (BSE).He was speaking at a special seminar on “Strengthening Market Access for Small and Medium Enterprises,” organised by the Coimbatore chapter of the Indian Chamber of Commerce and Industry (ICCI) on Thursday. Ramamurthy said that for the country to progress, all sectors must grow, and people must earn and reinvest. MSMEs play a crucial role in the nation’s economy, with 7.8 crore units contributing 31% to the GDP and accounting for 49% of exports. The sector provides employment to 34 crore people, of whom 39% are women. Despite their importance, only about 1,400 MSMEs are listed on the stock exchange, though many more have the potential to do so, he said. Tamil Nadu aims to become a $1 trillion economy, and MSMEs will play a key role in achieving this goal. He noted that 61 lakh MSMEs in Tamil Nadu are registered on the Udyam portal, contributing 8% to the state’s GSDP and providing jobs to one crore people. While Coimbatore leads in engineering and IT, only a few firms are listed. Simplified listing norms have helped resolve earlier challenges, he added.
