Mumbai (Maharashtra) [India], May 20 (ANI): Dun & Bradstreet Information Services India, a global provider of B2B data, insights and AI-driven platforms, has signed a memorandum of understanding with BSE (earlier known as Bombay Stock Exchange) to create an ecosystem for promoting, aiding and fostering the growth of small and medium enterprises (SMEs).
This partnership will help SMEs to increase their visibility, expand access to global markets, find potential customers, uncover new suppliers and channel partners, manage risk and identify growth opportunities.
Dun & Bradstreet has been engaged with MSMEs since the past two decades, providing them with the necessary business intelligence to help them grow and thrive, even in challenging times, said Avinash Gupta, Managing Director and CEO for India.
"As countries are witnessing second and third waves of the pandemic amid battling the deepest recession since World War II, SMEs are the worst affected across countries, sectors and segments. India is no exception," he said in a statement.
Ajay Thakur, Head of BSE SME and startups division, said the collaborative effort will enable enterprises listed on BSE to avail of Dun & Bradstreet business information services at a price that will not only strengthen their credibility but will also expand the scope of business opportunities for them.
More than 99 per cent of businesses in the country belong to MSME category and 94 per cent of them are unorganised.
A recent survey by Dun & Bradstreet shows the three top-most challenges that might impede SMEs to scale up their businesses are market access (42 per cent), improving overall productivity (37 per cent) and having access to more finance (34 per cent).
"By working with BSE, we expect to play a pivotal role in enabling the ecosystem required to accelerate SME growth and help achieve the government GDP contribution target of 50 per cent of GDP by FY 2025," said Gupta.
BSE is India's leading exchange group and has played a prominent role in developing the Indian capital market. (ANI)