Section V - MANAGEMENT DISCUSSION & ANALYSIS
 
www.ftindia.com    
 
Small and Medium Enterprises (SMEs)
Small and Medium Enterprises (SMEs) are a major growth engine for the Indian economy. In fact, these enterprises have been playing a critical role in the socio-economic development of the country. There are approximately 13 million SMEs in India, producing about 8,000 products providing employment to 41 million people. Moreover, SMEs contribute 40% of the total industrial output and 40% of all exports. Besides the challenges of global economic slowdown and the fluctuating USD-INR equation, the Indian SMEs face problems of low finance availability. In such a scenario, an exchange can provide a platform for SMEs to raise capital and enable them to face competition.
FINANCIAL TECHNOLOGIES (INDIA) LTD. - UNIQUELY POSITIONED
Financial Technologies (India) Ltd (FTIL) with its established infrastructure and deep domain expertise, is uniquely positioned to take advantage of the opportunities by providing technology solutions to exchanges as well as trading members. Your Company’s highly robust and scalable exchange and trading technology platform (Intellectual Property), gives it a decisive edge in driving mass disruptive innovation at a speed and cost of execution that is unmatched in the financial markets. With the expected increase in trading volumes, demand for new products, and managing bilateral and multilateral transactions, your Company’s future growth potential looks encouraging.
 
REVIEW OF OPERATIONS
The three cornerstones of the Financial Technologies Group’s self-fuelling business model are the technology business, exchange ventures and ecosystem ventures. The Group has a network of 10 exchanges—five in India and five overseas—supported by six ecosystem ventures that complement the exchange ventures by addressing upstream and downstream market opportunities.

Its technology business in turn plays a pivotal role in integrating the exchange and ecosystem ventures by providing the latest IP-centric technology, which keeps the Group in sync with the global competitive environment. The financial year 2008-09 has been yet another successful year for the Group, as new markets (exchanges) and ecosystem ventures were established to create one of the largest networks of exchanges across the globe.