Secretary to Chief Minister cum Industry, Mines and Geology Department Secretary Sunil Kumar Barnwal has assured small and medium scale companies of full support from Government. Speaking in a seminar on ‘Way Ahead: Opportunities for Small and Mid-Corporates’, here on Tuesday he said that the Government was in the advanced stages of making separate policies for small and medium enterprises, which were to bring visible changes in growth of such companies. He also said that Jharkhand was ahead of most of the States in country in terms of making business processes easy for small and medium enterprises.
The programme, organised by PHD Chamber (Jharkhand) in association with Guineas and small and medium enterprises (SME) platform, he said that the government was going to appoint District Managers in this week itself, who would look after problems and obstacles before SMEs in districts.
“Before this Government, no one was there to look after SME sector which has been facing different challenges on every step. Small and medium business owners are in centre of talk now and I assure them that the Government is not only committed to them, but also understands its problems well. I encourage SMEs to do business in State fearlessly,” said Barnwal.
“We are talking industrial growth in Jharkhand and we believe that the State has immense potential for business. We have successfully organised Soorajkund Mela this year themed at Jharkhand as a State, its culture and tradition after exceptional success of Global Investor Summit under Momentum Jharkhand. As smaller companies are much interested to grow, expand and walk steps with global companies willing to come to Jharkhand. While doing so, we are going in open market for funding through BSE SME Exchange,” said PHD Chamber President (Jharkhand) Pawan Bajaj on the occasion.
“In a market where everyone is interested in loan and not equity, it is extremely challenging to encourage smaller companies to go in open market and get listed in stock exchanges. But we did it in last five years and became successful of bringing as many as 180 small and medium size companies to get listed, which have a cumulative market capitalisation of over Rs18,000 Crores by now,” said BSE SME Cell Chief Ajay Thakur.
Counting benefits of getting listed on SME platform, he said that listing used to unlock market value of company. Recalling efforts made to get companies on BSE SME platform, he said that it usually took over six months in many cases to convince smaller companies only because they were not ready to open up to themselves despite understanding benefits of listing.
“However, we were ready to take this painstaking job forward because we believe that small and medium companies are going to be market leaders in terms of their share in GDP in next 10 years. I am sure SMEs in Jharkhand are going to take maximum benefits of SME listing,” said Thakur.
He also encouraged companies to come to BSE SME platform and have maximum benefit from it, where investment banker and Guiness Promoter Kamal Kumar Kothari, PHD Chamber Co-Chairman (Jharkhand) Vishnu Rajgadia, Founder and ex-President Deepak Rungta, Executive Manager JN Singh, Assistant Secretary Farha Tabassum, PASA Director Ajay Agrawal and many other small and medium-sized business owners were present.
Kothari focused on detailed process of listing on SME platform and do’s and don’ts while getting listed. He discussed about companies from Bihar and Jharkhand listed on BSE SME platform. Experts opined that the small and medium sized traders needed to take professional approach while taking their business to another level.