Vital to support SMEs and startups: BSE CEO
Bengaluru: Bombay Stock Exchange MD and CEO Ashishkumar Chauhan on Wednesday emphasised the importance of supporting SMEs and startups despite risk in raising funds for them as some have the potential of becoming giant firms like Infosys and Reliance Industries.
"Yes, we know there is a risk in raising funds for SMEs and startups listed on our dedicated platforms, but some of them have potential of becoming giant companies like Infosys and Reliance Industries. One must remember, Infosys and Reliance had started small," he said in an interview here.
Chauhan said it was important to support SMEs and startups because they have the potential of creating wealth.
"Even if 75 per cent of the startups and SMEs do not survive out of one lakh in total, there still will be 25,000 companies.
For me it is glass half-full which is more important because they will create unforeseen wealth in India," he said.
Chauhan said as many as 253 SMEs were listed on BSEs dedicated SME platform and their market capitalisation stood at Rs 22,000 crore.