Business

CriSidEx, India’s First Sentiment Index For Micro And small Enterprises Launched

SHAHNAWAZ | 0
1379
| February 3 , 2018 , 19:51 IST


Union Minister Arun Jaitley on Saturday launched CriSidEx, India’s first sentiment index for micro and small enterprises.

CriSidEx has been jointly developed by CRISIL and SIDBI (Small Industries Development Bank of India).

CriSidEx is a composite index that measures business sentiments on a scale of 0 to 10 (extremely negative to extremely positive). 1100 MSEs were surveyed between November and December to capture the parametric feedback

CriSidEx will have 2 indices, one for the ‘survey quarter’ and another for the ‘next quarter’ once a trend emerges after few rounds of the survey, providing independent time series data.

CriSidEx will flag potential headwinds and changes in production cycles and thus help improve market efficiencies. The index will also offer actionable indicators on foreign trade by capturing the sentiment of exporters and importers.

Speaking at the launch, Jaitley said that the health of MSME sector is extremely vital to the economy and with the number of steps taken by the government in the past 2 years, there is an increased integration of MSME sector into the formal economy. 

Highlighting MSME Sector’s role in job creation, Jaitley said “MSME sector is the backbone of our economy. It is one of the largest employers in the country and with the vast population where employment either in government or in the large industry itself has limited potential. This is one sector where people not only exhibit their entrepreneurial skills, become part of large value chains but also become job creators in the process. And that is the reason why a bulk of the jobs in manufacturing, trading have been created in this particular sector.”