MSMEs must leverage capital market to scale up

Concerted efforts by the government to support MSMEs through financial reforms, ease of doing business initiatives and credit access programmes have helped integrate them into global supply chains, said MP and former union minister Anurag Thakur. This, in turn, propelled India from being a part of the ‘Fragile Five’ to one of the world’s top five economies, he added.

Crediting the youth for building enterprises – 160,000 startups and 117 unicorns – that compete on the global stage, Thakur said, “Over the past decade, from the ‘Fragile Five’ to one the world’s top five economies; and in the next years, we are set to become the third-largest economy.”

Arguing that Indian MSMEs must leverage capital markets to increase credibility, secure funding and scale up their business, Ashishkumar Chauhan. Chief executive of NSE, said, “India’s thriving capital market is an anomaly, as traditionally, only wealthy nations develop strong investment ecosystems. However, with 11 crore registered investor and 21 crore accounts, India is uniquely positioned to fund entrepreneurial dreams”.

Geopolitical multipolariy, the decline of global regulatory frameworks such as WTO, and the consequent shift of large economies prioritising bilateral agreements over multilateral ones, favour India.

Chauhan said, “Historical events, such as the US strategically engaging with China in the 1970s to pull it away from the Russia, gave China economic advantages that fuelled its rapid growth.

However, today, the US and other western nations are reassessing their relationships and shifting their focus toward India and other emerging economies.

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