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SIDBI & CRISIL sign an MoU to launch CriSidEx

Tuesday, November 14, 2017

Mohammad Mustafa, CMD, SIDBI and Ashu Suyash, MD and CEO, CRISIL Ltd. at the CriSidEx MoU signing in Mumbai yesterday.

SIDBI and CRISIL yesterday signed a Memorandum of Understanding (MoU) to launch CriSidEx, India’s first Sentiment Index for Micro, Small and Medium Enterprises (MSME) that will indicate the current state and expected outlook on the MSME sector every quarter. The Memorandum was signed by Ashu Suyash, MD and CEO, CRISIL Ltd., and Mohammad Mustafa, Chairman and MD, SIDBI.

The Sentiment Index is expected to provide crucial insights into employment, business environment and foreign trade. Data on MSMEs comes with a significant lag, so there is no way to regularly aggregate and assess the ground situation amongst wide range of disparate enterprises spread across India.

Ashu Suyash mentioned, “Effective policy making is a function of the quality of information at hand and given the government’s agenda of ensuring inclusive growth, a leading indicator that reflects the business predicament and tidings of the MSME sector is crucial. CriSidEx is designed to do exactly that because it will gather real-time, ground-level information directly from the MSMEs.”

Every quarter, the CriSidEx survey will cover over 1,000 MSMEs using a structured questionnaire to ensure consistency in methodology and capture information sans significant deviations. The sample will have representation based on size, geography and nature of business and across different legal entities.

According to Mustafa, “CriSidEx will allow stakeholders, especially policy makers, to take timely, even proactive – steps, including those based on early warnings thrown up by the survey. Given the significance of the MSME sector to India’s economy, the survey and CriSidEX will help in various policy inputs in future.”

The results of the survey and CriSidEx levels will be published soon after every quarter. The first of these will be published in Jan 2018.

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