Capital Market Must Expand For Viksit Bharat: SEBI Member

The Association of National Exchanges Members of India (ANMI) recently wrapped up its 13th International Convention, held in New Delhi, on Saturday.

As per a press release, the gathering centered around the theme Bharat: A Global Hub of Opportunities, convened more than 900 trading members from prominent Indian stock exchanges, regulatory bodies, and business leaders to discuss plans for growing India's capital market.

The event included informative discussions centered on major trends in the Indian financial markets for the upcoming decade, India's economic growth, and the technological advancements influencing capital markets.

Esteemed professionals in the finance industry participated in inspiring conversations and offered valuable perspectives on the future of the Indian capital markets.

One of the main features of the event was the attendance of Kamlesh Varshney, Whole Time Member, SEBI, who stressed the significance of reforms, creativity, and investor confidence in attaining the desired growth of the capital market.

Varshney emphasized SEBI's efforts, such as creating a cyber-security framework, and urged brokers to adopt these steps to boost investor trust.

He emphasized the need for the Capital Market to grow by over 12 per cent to be in line with the goals of Viksit Bharat.

To achieve the desired growth, it is crucial to prioritize reforms, innovation, utilizing technology, and building trust with investors.

Varshney emphasized the proactive steps taken by SEBI to improve cybersecurity through the creation of a thorough framework, which has been distributed to the industry.

He encouraged brokers to adopt this structure to safeguard the security and trustworthiness of the market.

Additionally, he suggested the implementation of a Critical Path Method to make processes more efficient and highlighted the importance of investor trust in driving the expansion of Indian Capital Markets.

Varshney made a meaningful contribution to the conference by publishing a thought-provoking report called 'Roadmap for Inclusive Development of Indian Capital Markets,' offering valuable insights into the market's future direction.

Ashish Chauhan, the Managing Director and CEO of NSE, gave a powerful speech highlighting the significance of stockbrokers in driving growth and the value of investing in NIFTY for wealth generation and India's future development.

Chauhan made a thought-provoking comparison between the well-known Warren Buffett in the United States and India's Nifty, highlighting the latter's significance as a major contributor to wealth generation.

He highly suggested that investing in NIFTY would contribute to the nation's future growth and the prosperity of investors.

Chauhan shared significant data, indicating that almost 90 million depositories with distinct PAN numbers are presently enrolled with NSE, making up 20 per cent of India's households.

He set an ambitious goal to reach 100 per cent coverage, emphasizing NSE's dedication to expanding market participation.

Emphasizing the crucial importance of stockbrokers, Chauhan recognized them as key drivers for the anticipated expansion.

He claimed that reaching a market capitalization of USD 50 trillion in the next twenty years depends on the rise and triumph of technology-driven new businesses, which are expected to be the main catalysts for generating wealth in India.

He aimed to achieve 100 per cent growth in the number of registered depositors with distinct PAN numbers in order to broaden market involvement.

During the convention, ANMI released an insightful report on the Roadmap for Inclusive Development of Indian Capital Markets, outlining strategies to promote sustainability, inclusion, education, and transparency within the capital markets arena.

The report highlighted ANMI's dedication to promoting inclusive growth and nurturing a dynamic capital market environment in India.

Dr Vijay Mehta, President of ANMI, commended the riveting discussions held at the convention and highlighted India's economic prowess and its shining presence on the global stage.

He restated ANMI's commitment to giving priority to sustainability, technology, inclusivity, and transparency in the field of finance and investment.

Mehta said, "At our 13th International Convention, we celebrated India's capital markets which is full of opportunities. With a strong economy, advanced technology, and rich culture, India is shining globally. Just last month, over 5.4 million new investors joined the market, and as of February 9th, we had nearly 161 million registered investors. Moreover, our pledge today reaffirms our stance that we are committed to prioritizing sustainability, technology, inclusion, and transparency in the realm of finance and investment."

Hemant Kakkar, the Convenor and Chairman of ANMI, reiterated Dr. Mehta's feelings, highlighting the convention's emphasis on finding strategies to enhance India's global economic standing through capital market efforts.

He commended the creative ideas showcased at the event and emphasized ANMI's dedication to fostering progress and advancement, while also prioritizing inclusiveness and transparency.

Kakkar, "At the 13th International Convention, we successfully explored how India's capital markets could boost our country's global economic status. Discussions on upcoming trends, India's economic growth, and the adoption of new technologies were insightful and the innovative solutions presented at the convention are bound to take India's capital markets to new heights. The members' pledge to embrace innovation, sustainability, inclusion, and transparency was a positive step and showed our dedication towards envisioning a brighter future for India's economy."

The conference ended with a feeling of hope and resolve as ANMI and its members restated their dedication to advancing the expansion and progress of Indian financial markets.

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