Credit rating agency CRISIL Limited, is looking to rate as many as 100,000 small and medium enterprises (SMEs) by 2015 and is eyes a better growth potential in tier II and III cities.
Mr Sachin Nigam, director (SME Ratings), said, “With the rating potential in the SME sector looking bright, we hope to rate around 100,000 units by 2015. The SMEs account for 90 percent of the employment in India and create around one million jobs annually. The sector accounts for eight percent of India’s GDP and accounts for 45 percent of the country’s exports.”
Till date, the global rating agency had done 25,000 SME ratings and enjoys a leadership position in the SME rating segment.
For SME segment, the company provides two ratings- credit rating of financial instruments issued by SME’s and customised rating for SME sector. Taking into account of both the segments, Crisil has rated over 30,000 SME units till date.
During the previous year, Rs.827 crore turnover of CRISIL was largely driven by bank loan and SME ratings.
CRISIL will target SMEs located in tier II and III towns for growth and enjoys a rating renewal of 40 percent from its SME clients.
