Mumbai : “For Indian economy to move forward, it will require a very large number of stocks, very large number of well-managed companies are expected to come in the market-raising resources, because that’s how, you know, the capital investments will take place. It is very important for well-managed companies to get listed to achieve accelerated growth. Most of the projections are that the economy will continue to grow over a long period of time, and this will mean that it will require both the capital markets and the National markets also, doing all that they can do in order to achieve this growth.” said  Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, Government of India at the 15^th Capital Market Summit organised by ASSOCHAM.

“India is the fastest growing economy in the World. Our capital markets are also performing well. We exceeded the $4trillion market cap for NSE. And the number of Demat accounts have grown up to more than 14 crores. It is important to actually become prosperous, not only in our immediate future but in the long-term we invest in the market infrastructure, and provide opportunities for all citizens in our region to reach their potential. We’re continuing to improve social structure and improving skills, education, health, and other social needs for our growing economy. The retail participation from urban and rural India in capital markets has been growing strongly with more and more SIP accounts as well as direct investments clearly indicating the growth of the economy.” He added.

Sharing his views at the summit  Ananth Narayan Gopalakrishnan, Whole Time Member, Securities & Exchange Board of India (SEBI) said, “The capital market too comes with inherent risks and individuals must exercise due diligence before making investments. Phones have become a convenient tool in the investment process and individual investors rely heavily on it. There is a need for enhancing investor’s awareness on the risk posed by technology. Today cybersecurity and threats to tech resilience have emerged as the biggest threat in the capital markets and is giving sleepless nights to the stakeholders.”

Kamlesh Chandra Varshney, Whole Time Member, Securities & Exchange Board of India, speaking at the summit said, “We can see that the growth in the Capital Market has been phenomenal. We have already talked about total number of Demat accounts, and the growth is 40% in last 10 months. Similarly, you Demat accounts has seen growth of 20% in last 1 year. Now, this is something which is very heartening. And not only the amount, the number that we are talking about, if we go deep down into from which cities these numbers are coming, in last few years, that is more heartening because it is coming from tier to tier 3 cities. Now, when we say that it is important because when we see Viksit Bharat in 1947, it is not only the GDP, the per capita income that is important, it is also important that each and every Indians are part of that growth is growing. Each and every Indian is enjoying the fruit of development. So, to that extent, when we see last few years, it is the small investors from tier 2 tier 3 cities are joining Capital Market and enjoying the growth that we are seeing in Capital Market. That is something very, very important for development of India and for development of Capital Market.”

For next 25 years, we need to continue to grow at that particular pace. Similarly, when we see fundraising in equity, as also doubled in the last 4 years, AIF fundraising or in-between fundraising are at all-time high. Everybody is doing their part to ensure that we have a robust capital market, particularly, you know, which enable us, enable India to form capital for 2047 Viksit Bharata.”

 Delivering the welcome address Lav Chaturvedi, Chairman, National Council on Capital Market and Investors Protection, ASSOCHAM and ED & CEO, Reliance Securities said, “These are exciting times to talk about Viksit Bharat and where we are today. We are the 5^th largest economy, the 5^th largest capital market, the 3^rd largest unicorn market and the fastest growing economy amongst the large economies in the world. The last 5 to 7 years has seen government Capex increase by 5 fold. Private Capex has significant improved by 2X over the past 12 to 18 months. With tax collection at all-time high, the direction we are heading is taking us to where we aspire for. We are destine to be Viksit bharat by 2047. Going ahead, capital formation of the highest order and a more equitable growth is what will get us there.”