Published Paper Details:

Small and Medium Enterprises (SMEs) play a crucial role in India's economic development by significantly contributing to GDP, employment generation, and industrial growth. However, limited access to finance remains a major challenge, restricting their ability to scale operations, adopt new technologies, and compete in global markets. Traditional funding avenues such as bank loans and informal lending often prove insufficient, highlighting the need for alternative financing mechanisms. In response, SME stock exchanges--BSE-SME and NSE-SME--have been established to enable SMEs to raise equity capital through public listings, reducing their dependence on debt financing. By enhancing access to capital, these exchanges not only strengthen financial resilience but also improve corporate governance and attract institutional investors. Additionally, listing on SME stock exchanges increases business visibility, enhances credibility, and unlocks new growth opportunities for SMEs. This research paper examines the growth, sectoral impact, and financial sustainability of SME stock exchanges in India while also assessing their alignment with Sustainable Development Goals (SDGs). The study aims to understand the SME stock exchanges of India, highlight the number of SMEs registered on these platforms, identify their contribution to SDGs, and assess their sectoral impact in achieving financial sustainability. The findings indicate that SME stock exchanges act as a bridge between small enterprises and capital markets, improving access to long-term financing and promoting investment in high-growth sectors such as manufacturing, IT, and healthcare. Moreover, these exchanges contribute to SDG 8 (Decent Work and Economic Growth), SDG 9 (Industry, Innovation, and Infrastructure), and SDG 10 (Reduced Inequalities) by enabling financial inclusion and supporting sustainable economic expansion. Despite their advantages, challenges such as limited awareness, high listing costs, and regulatory compliance burdens hinder broader SME participation. Addressing these challenges through policy reforms, investor incentives, and capacity-building initiatives can enhance the impact of SME stock exchanges in India. Ultimately, fostering financial accessibility through SME stock exchanges is crucial for driving sustainable economic development, empowering smaller enterprises, and supporting India's long-term industrial growth.