Odisha has inked MOUs with BSE Ltd (previously Bombay Stock Exchange) and NSE Ltd National Stock Exchange to facilitate the listing of medium and small firms, allowing MSMEs to access financial markets (MSMEs).
In accordance with the MOUs, BSE and NSE would support MSMEs by giving them the training and knowledge needed for listing and enhancing their financial credibility. At the Make in Odisha Conclave 2022, which got underway on November 30, the MoU was inked. The session yesterday focused on two sub-themes, one on infrastructure and the other on financing MSME.
Several projects were launched at the event, including establishing electronic bank guarantees in partnership with National EGovernance Services Ltd. (NESL).
Participants in the session included representatives from banks, financial institutions, industry associations, financial service providers, fintech businesses, business schools, and government departments. These included S. S. Mundra, chairman of the BSE, Ramanan, CMD of SIDBI, Mahadeo Jaiswal, director of IIM Sambalpur, Moazzam Mekan from the International Finance Corporation and the World Bank, Rachana Bhusari, vice president of the NSE, and PR Jaishankar, managing director of IIFCL Vishal Dev, principal secretary for finance in the government of Odisha, presided over the discussion.
The BSE Chairman recommended that the government of Odisha compile a list of 10 to 15 MSMEs that would be interested in going public and that the government retains seed stock in these businesses through a designated corpus until they mature. The NSE VP promised her support for listing state MSMEs on the NSE Emerge platform.
Gulshan Malik, the Dy. The Managing Director for SBI promised full assistance for the development of the industry. Additionally, SBI inked an MOU to finance MSMEs and start-ups in Odisha.
Ramanan, the CMD of SIDBI, discussed their commitment to establishing a Corpus for guarantying loans to MSMEs in Odisha, which may be expanded by the State to increase the size of the guarantee.
Regarding debt relay and refinancing, PR Jaishankar, MD, IIFCL spoke on the topic of financing infrastructure and r
For the advancement of MSMEs, Professor Mahadeo Jaiswal, Director of IIM Sambalpur, emphasized the necessity for skilled and educated labor. To improve the marketing and financial service capabilities in the weavers’ cluster in western Odisha, IIM Sambalpur has already started trial programs.
Odisha’s premier investment summit is in its third year, and 54 prominent businesspeople and industrialists attended.
The Industrial Policy Resolution 2022, which aims to make Odisha the preferred location for industrial firms both nationally and internationally, was introduced during the Make in Odisha Conclave 2022.
54 industry leaders, and attendees from 11 nations, and a number of industry leaders were present on the Conclave’s first day. recommended that the state uses a hybrid annuity approach. Adani Ports CEO Karan Adani pledged to invest more than 60,000 crores over the next ten years.
The business is establishing a 24 million tonnes manufacturing unit in Odisha as part of a joint venture with Nippon Steel, according to Lakshmi Niwas Mittal, executive chairman of ArcelorMittal.
Sajjan Jindal, the chairman of JSW Group, announced that the company will invest an additional 1 lakh crore in Odisha to build a steel factory in Paradip and a silicon metal facility to make solar panels. He said the group has already made investments of 60,000 crores in the state.
Vedanta Resources’ founder and chairman, Anil Agarwal, set the cornerstone from the top. The aluminum park, which would span 253 acres in Jharsuguda, will be India’s largest metal park, according to Agarwal.
Essar Capital would spend over $52,000 crore in Odisha to build a number of projects, including a 7.5 MT crude-to-petrochemical complex and a 14 MT pellet factory.