Mumbai, August 22, 2016 /PRNewswire/ – The SME Chamber of India, the country’s leading national premier chamber, has collaborated with MRSS India Ltd to launch a study to measure the 'SME Business Confidence Index' for India. The research titled 'SME CONFEX 2016' is the first sentiment measuring mechanism of its kind to be conceptualised. The formal inauguration and launch of the Index was held on 19th August at Sahara Star, Mumbai, on the occasion of the SMECOI foundation day. The event was graced dignitaries including Shri Ch Vidyasagar Rao, Governor of Maharashtra; Shri Subhash Desai, State Minister for Industries; Shri Rajeev Kumar Agarwal, Whole Time Member, SEBI; Shri Deepak Kesarkar, Minister of State for Home, Planning & Finance; and Shri Arun Tiwari (CMD, Union Bank of India) amongst others.

The SME segment, considered to be the backbone of economy, is the key segment of focus for not only the Government but also the Industries and Administrative bodies. This Index, designed by MRSS and SMECOI will aim to 'measure', 'monitor' and 'manage' this segment, which serves as the driving force of the economy. The multi-million dollar multi-year research would cover an extensive base of more than 6,500 SME companies across the country and provide a genuine yardstick for the measurement of prevailing SME sentiment and their future outlook.

Mr Raj Sharma, Chairman MRSS, added, “MRSS strives for better measurement in India. SME CONFEX is salient to our vision and we are glad that SME Chambers of India is our partner in this initiative. Surely enough, the scale and scope will get grander.”

Mr Chandrakant Salunkhe, President of SMECOI, commented, “SME Chambers of India has been dedicated to the cause of SMEs across India and on our Foundation Day, we are proud that we have created history for SME sector in India. SME Confex is a platform that will engage multiple stakeholders in our purpose.

Raj Sharma, Chairman, Majestic Research Services and Solutions Limited. Mobile: 093221-05830. Email: raj.sharma@mrssindia.com