HT Bureau
GUWAHATI, April 9: Ashishkumar Chauhan, Managing Director and CEO of the National Stock Exchange of India (NSE), shared an optimistic outlook on India’s financial markets amid global challenges at the India Global Forum, Mumbai NXT25, through an official statement on Wednesday.
Chauhan highlighted the resilience of Indian markets, despite a $1.5 trillion drop from their peak, emphasizing the country’s robust long-term growth trajectory. “In 2014, India’s market capitalization was under $1 trillion. Today, it is approaching $5 trillion, reflecting significant wealth creation,” he noted, underscoring the substantial progress India has made in capital market growth.
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Responding to concerns over foreign investor exits, Chauhan attributed the trend to global interest rate hikes and a broader ‘risk-off’ sentiment that has impacted emerging markets. However, he reassured stakeholders that India remains relatively insulated from global tariff tensions, benefiting from a unique export profile.
Chauhan also pointed to the growing role of retail investors in shaping the Indian market. With more than 60 million Indian investors contributing as little as Rs 250 monthly through systematic investment plans (SIPs), the market experiences a steady inflow of $2.5-3 billion per month. “This is a clear sign of rising trust in Indian businesses and entrepreneurs,” he said.
On financial inclusion, Chauhan emphasized the significance of small-ticket investments in expanding market participation. “The growing maturity of investors, even during periods of market volatility, speaks volumes about the deepening financial literacy in the country,” he added.
Regarding the IPO market, Chauhan noted that while over 50 IPO filings occurred in late March alone, global uncertainties might affect their timelines. The NSE had a remarkable 2024, hosting 268 IPOs, raising $19.6 billion—the highest globally, with 178 IPOs from the SME sector. Overall, the exchange facilitated over $209 billion in fund mobilization.
Chauhan also addressed recent operational adjustments, including the shift in derivatives expiry from Thursday to Monday, which was made in response to regulatory changes and market consultations. “This change is routine, and we await further guidance before implementing additional changes,” he explained.
Concluding his address, Chauhan reflected on India’s stable economic fundamentals and the consistent support of regulators and the government. “While global turbulence remains, India is navigating these challenges with caution, and our strong economic foundation will guide us through,” he said.
As the global economy grapples with uncertainties, India’s market stability continues to make it a key player in the world of finance, the statement concluded.
