SMU and Bombay Stock Exchange Institute facilitate knowledge exchange between Singapore and Indian companies in areas of finance and strategy
[Singapore, 14 October 2013 (Monday)] – Singapore Management University (SMU) and the Bombay Stock Exchange (BSE) Institute have come together to jointly design and organise a workshop in Mumbai, India, to facilitate the sharing of experience and knowledge between Singapore and Indian companies. Entitled Integrating Finance and Strategy for Indian Small and Medium Enterprises, the seminar was opened by Mr B H Anil Kumar, Joint Secretary of India’s Ministry of Micro Small and Medium Enterprises, today at the BSE headquarters and attracted a good turnout of over 100 participants from the small and medium enterprises (SME) sector in India.
Indian SMEs have been facing challenges in achieving profitable growth and funding support which has been further compounded by a sluggish economy in key exporting countries and the cyclical downturn of India’s domestic economy. The seminar brought together leading domestic and international thought leaders and practitioners who discussed key issues impacting India’s SME sector, as well as the possibility of SMEs becoming the engine of growth in a challenging Indian marketplace.
During the event, the speakers and participants also shared their views and perspectives on best practices on innovative and practical solutions that Indian SMEs can adopt to effectively tackle challenges impacting their growth and funding. They also discussed the implications of a potential relaxation in Indian regulations that may enable Indian growth companies to be listed overseas.
Professor Rajendra K Srivastava, SMU’s Provost and Deputy President, said, “We at SMU in particular and Singapore at large believe in the potential of the India economy and, despite current challenges, we see it forging ahead in the long run. This event provides the opportunities for Singapore companies and organisations, such as Singapore Exchange, DBS Bank and Temasek Holdings, as well as our own faculty at the UOB-SMU Asian Enterprise Institute, to share their experience and knowledge with Indian SME heads and representatives.”
Mr Ambarish Datta, Managing Director and Chief Executive Officer of BSE Institute Ltd, said, “Small and medium enterprises have been the backbone of the Indian economy. They play a critical role in generating millions of jobs. The country's 1.3 million SMEs account for 40% of India's total exports, however, they only contribute 17% to the Indian gross domestic product. We need to explore ways and means of developing the SME sector by investing in improved processes and systems and most importantly skill development of the workforce employed. We are pleased to work with the Singapore Management University to make this event possible, our SME participants were able to explore these issues and find some directions to address them during the course of the panel discussions.”
This event follows a Memorandum of Understanding that SMU signed with BSE Institute in 2012, which laid the foundation for collaboration in areas relating to financial markets. Apart from the above seminar, the two institutions are currently working on the possibility of offering a joint Master in Finance, with Indian professionals participating in the programme, spending time both in Mumbai and Singapore.
Enclosures
Media Contacts
HUANG Peiling (Ms)
Senior Assistant Director, Corporate Communications
DID: 6828 0964
Mobile: 9845 3361
Email: plhuang [at] smu.edu.sg
