How Indian stock market envision PM Modi's dream of 'Viksit Bharat' by 2047? Explained

livemint.com:

‘Viksit Bharat’. He sees the Indian economy rising further in leaps and bounds by making the country a 'developed nation worth $30 trillion economy by 2047. The Indian equity market has been an instrumental part of the country's economic growth.

Going ahead, the stock market is expected to support Indian businesses and jobs. “NSE has provided numerous job opportunities. When it was set up in 1994, only 100s of trades used to take place every day.

But today, we received 2,200 crore order messages in just 6 hours and 15 minutes. Of these, we process 22 crore trades each day. So imagine, how many people are involved in this ecosystem.

This is one of the biggest contributions of equity markets," NSE Chief Business Development Officer Sriram Krishnan told LiveMint. He said, “Also, the equity market has become a very focal point in the overall transformation of the Indian economy. In the 1990s, we were more export-oriented.

But today, we talk about the services economy which means financial services, another big contribution of equity markets. The third component is support to new businesses and investors. The number of IPOs that came in the last 15 months is mind-boggling.

This kind of growth and confidence we have created." More than 65 mainboard companies including Tata Technologies, Cyeint DLM, Signature Global (India), Nova AgriTech, Jana Small Finance Bank, and others have launched their IPOs in the past one and a half years. BSE Chief Business Officer Sameer Patil also shared his insights on Indian equity markets' contribution to the Viksit Bharat@2047 mission and said that digitalization has helped the stock exchanges to grow and increase the participation of investors. “The stock markets look forward to the PM's