The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) in association with State Bank of Hyderabad and Andhra Bank jointly organized an conference on “Financial Management for SMEs: Raising Capital through Stock Exchanges & Criteria for Listing on Exchanges” today (March 03, 2014) at FAPCCI, Red Hills, Hyderabad.
Chairman & Managing Director, Andhra Bank was the chief speaker at the conference.
Sri Ajay K. Thakur, Head, BSE SME Platform, Mumbai, Sri S. Raman, Whole Time Member, Securities & Exchange Board of India, Sri Shiv Kumar Rungta, Senior Vice President, FAPCCI, Sri Anil Reddy V, Vice President, FAPCCI, Sri Arun Luharuka, Chairman, Corporate Affairs Committee, FAPCCI and Ms. Vydehi P, Secretary (Incharge) was the other speakers at the occasion.
Chairman & Managing Director, Andhra Bank said that the MSME segment in India forms the backbone of economic growth and therefore in a growing economy like India there is immense potential for the SME business to grow. This segment contributes 8% to India’s GDP and its share to country’s manufacturing output is 45%.
MSME employment can grow at 12% over next decade to reach nearly 140 million workforce by 2020 and we can expect MSMEs to contribute 20% of India’s GDP by 2020.
Note: Full speech of Chairman & Managing Director, Andhra Bank has attached with the mail.