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Time of India

Demand for MSME stock exchange in UP

Lucknow: Based on its on-ground experience of interaction with UP's diaspora in Maharashtra, Uttar Pradesh Development Forum — a not-for-profit social organisation working to integrate UP diaspora for development of the state — has urged the Uttar Pradesh govt to establish a dedicated MSME National Stock Exchange in Uttar Pradesh. In a letter to UP MSME minister Rakesh Sachan, UPDF president Pankaj Jaiswal wrote: "While existing stock exchanges such as BSE and NSE offer an SME platform for IPOs, these often operate under the overwhelming shadow of large-cap markets much like a sapling growing under a Banyan tree. We believe that if UP being the national leader in MSMEs takes the bold step of establishing a dedicated MSME Stock Exchange, it would serve as a catalytic financial institution for MSMEs across India." He added UP's exchange could focus exclusively on the unique capital needs of small and medium enterprises. He listed out several advantages of the exchange, such as simplified and fast-track listing procedure; tailored compliance mechanisms; sector-specific investor networks. "The initiative would not only solve capital accessibility issues but also position Uttar Pradesh as the capital state for MSMEs, just as Mumbai is for capital markets," he said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Co-live Spaces Starting from 42L+ | Whitefield Sumadhura Learn More Undo Sachan, during his interaction with UPDF in Maharashtra on Saturday, gave a presentation on the policy support being provided to MSMEs in Uttar Pradesh and elaborated on the govt's flagship "PLEDGE Scheme". This scheme promotes the development of private industrial parks under a "build, own, and operate" model, allowing land development from 10 to 50 acres with significant incentives, including 100% exemption on stamp duty, loan assistance at just 1% interest rate, grant support of up to Rs 4 crore, 10 years exemption on electricity duty, as well as GST and income tax exemptions. Facilities such as testing labs, effluent treatment plants, and road connectivity are also supported. He also invited entrepreneurs to invest in UP and share knowledge with local industries. On this occasion, Ashok Tiwari proposed organising a National MSME Conclave in Uttar Pradesh.