BSE launched an institutional trading platform in the BSE SME segment to facilitate start-up companies and SMEs to list without an IPO. The BSE SME ITP will provide easier entry and exit options for investors like angel investors, venture capital funds, and private equity equity players. "BSE is a leader in the SME category with over 46 listed companies. Additional 15 companies are at various stages of completion of their IPO", BSE MD & CEO Ashishkumar Chauhan said. Any company with a paid-up capital not exceeding R25 crore in any of the previous financial years and has at least one full year's audited financial statements for the immediately preceding financial year is eligible to get listed on the BSE SME ITP. Any company that has not completed a period of more than 10 years after incorporation and its revenues have not exceeded R100 crore in any of the previous financial years is also eligible.

DFID to lend £230 million for West Bengal’s SME sector

DFID, the funding arm of the British government, would extend an assistance of £230 million (about R2,400 crore) to fund SMEs in West Bengal.

Greg Barker, the UK minister of state for energy, climate change and business engagement with India, who called on the state industry and finance minister Amit Mitra recently, said the money would be routed through institutions like Sidbi and nationalised banks.

Karnataka to set up electronics clusters in Mysore, Peenya

The Karnataka government intends to set up Electronic Manufacturing Clusters (EMCs) in Mysore and at Peenya, as part of its efforts to emerge as a preferred electronic system design and manufacturing hub. “We want to set up two more EMCs—one at Mysore and another at Peenya. We will soon send detailed project reports to the Centre for its approval,” minister for IT-BT, science & technology SR Patil said.

Auto industry begins electronic exchange of information

The automotive industry has set up an electronic platform, AutoDX, to help manufacturers and suppliers exchange industry data. The Society of Indian Automobile Manufacturers (Siam) and the Automotive Component Manufacturers Association of India (Acma) have jointly developed the platform. “It would be a server to server connection between the OEMs and the suppliers, and data on commercial, logistics, financial, engineering, etc would be exchanged,” Acma president Harish Lakshman said. AutoDX will also be used by trading partners, logistics providers and banks.

36 more graduate under 10,000 Women India programme

The Goldman Sachs Group, in partnership with the Indian School of Business (ISB) celebrated the graduation of 36 women of the 44th class of the 10,000 Women programme in India. 10,000 Women is a global initiative of Goldman, providing 10,000 under-served women entrepreneurs with a business and management education. Over 1,300 Indian women entrepreneurs hailing from 25 cities across the country have been trained since the inception of the programme in 2008.

Rise in non-functional textile units in Punjab, Haryana: Study

The number of non-functional textile factories rose in Punjab and Haryana between 2000-01and 2010-11, causing job loss, primarily due to low productivity, lack of foreign investments and labour issues, said an Assocham study. The number of non-operating textile units grew to 227 units from 11 in Punjab during the 10-year period. In Haryana, the number grew from 11 to 175 during the same period.

Garment exporters demand reduction in yarn prices

Garment exporters have sought Union textile minister K Sambasiva Rao’s intervention for a reduction in yarn prices raised recently by the spinning mills. In a letter to Rao, Tirupur Exporters’ Association (TEA) president A Shakthivel said despite appeals from the mills associations, spinning mills refused to concede their requests and justified the increase in yarn prices.