India's premier stock exchange BSE on Friday said it has signed a Memorandum of Understanding (MoU) with the Government of Goa for the development of small and medium enterprises (SME) in the state.

The BSE-SME Exchange has been at the forefront in assisting SMEs to raise equity capital for their growth and expansion, thus helping them blossom into full-fledged companies.

According to BSE, the association with the Goa government will look at creating awareness amongst SMEs in the state on the benefits of listing on the Exchange as well as guide them on the efficient ways of raising capital through equity infusion.

The partnership entails the Department of Industries and Commerce, Goa offering support in mobilising the SME representatives through the District Industries Centre as well as the state/regional associations/chambers encouraging their SME members to attend capacity-building programs organised by the Exchange.

"SMEs play an important role in the growth of the economy and the BSE SME Exchange was created with a vision and mission of addressing the unmet needs of thousands of SMEs in India. This association with the Government of Goa will play a significant role in opening a plethora of opportunities for small-medium enterprises," Sundararaman Ramamurthy, MD &CEO, BSE said.

The BSE will also provide training and capacity-building support to District Industries Centre officials and a nodal person will be appointed for providing end-to-end solutions and facilitating SMEs with respect to registration/listing on the platform.