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2010-09-24

SME needs a uniform definition

The term SME should be uniformly defined and explained which is acceptable and followed by the entire investment sector as well as the banking sector towards ensuring an equal and easier access to fun

The term SME should be uniformly defined and explained which is acceptable and followed by the entire investment sector as well as the banking sector towards ensuring an equal and easier access to funding opportunities for this sector. SME access to financing would be tremendously enhanced if there was a standard understanding of what constitutes a small and medium enterprise in the legal context, said Suzlon CFO Robin Banerjee at an SME event.

The SME summit brought out key issues and challenges that is faced by the sector like financing and technology improvement and further explored various ways towards overcoming it leading to growth of the SME sector.

Trade body, ASSOCHAM’s SME Expert Committee Co-chairman, Bikky Khosla, suggested towards opting for alternative financing at the event. Bombay Stock Exchange Deputy CEO, Ashish Chauhan, who was also present at the event spoke on the growing relevance of getting listed on the stock exchange and also spoke about BSE’s plans for an SME exchange in the pipeline.

The summit brought forward several perspectives on how Indian SMEs can overcome monetary concerns, technology upgrades, government intervention and competition, among other issues, the release said.

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