In a major step towards empowering the Micro, Small, and Medium Enterprises (MSMEs) of Uttar Pradesh, the Government of Uttar Pradesh has signed a MoU with the National Stock Exchange (NSE) to facilitate fund-raising opportunities for MSMEs through the NSE Emerge platform and raise funds via IPO.
Under the leadership of Chief Minister Yogi Adityanath and the guidance of Minister of Industries Rakesh Sachan, the state government has been committed to building a conducive business ecosystem for MSMEs to scale up, attract investments, and gain global visibility.
Government of Uttar Pradesh and National Stock Exchange Sign MoU to facilitate fund raising for SMEs in the State through Uttar Pradesh Small Industries Corporation (UPSIC).
This initiative is expected to provide MSMEs with an alternative source of funding, along with enhanced visibility and credibility in the market.
NSE Emerge, the SME platform of NSE, enables growing businesses to access public capital and attract potential investors. The Government of Uttar Pradesh, in partnership with NSE, will conduct awareness sessions, seminars, MSME camps, roadshows, and workshops to educate businesses across the state about the listing process and the benefits of capital market participation.
Uttar Pradesh is home to approximately 96 lakh MSMEs. The state government, through its World Bank-funded RAMP programme, is also in the process of creating 500 MSME Champions to promote financial inclusion and digital transformation.
As per the MSME Policy 2022, the state government offers a financial support of ₹5 lakh for MSMEs seeking to list on the stock exchange. Eligible enterprises can avail this support in addition to other incentives offered under the policy.
This partnership with NSE is expected to be a game-changing initiative in accelerating the capital generation and growth trajectory of MSMEs in Uttar Pradesh.
