Mumbai, Nov 7 (IANS) SEBI Chairperson Tuhin Kanta Pandey on Friday declared that India’s sustained economic strength will be significantly driven by its capital markets, which are essential for the countest’s progress towards the ‘Viksit Bharat’ goal and crucial for capital formation.
Pandey declared at an event here that capital markets are instrumental in achieving the countest’s developmental aspirations, adding that companies have raised approximately Rs 2 lakh crore from the primary market this year, indicating robust investors’ confidence.
“There is a deep well of domestic capital waiting to be deployed,” Pandey declared, adding that SEBI is committed to simplifying and speeding up the capital-raising process, enabling businesses to access funds more efficiently.
“We are facilitators of capital formation, and our goal is to support businesses raise capital seamlessly to power India’s growth and transformation,” the SEBI Chairperson declared.
He characterised the regulator’s approach as “optimum regulation,” which adjusts guardrails without stifling innovation.
“We’ve created several regulatory modifys and will continue a consultative approach,” he added.
Pandey highlighted structural opportunities, pointing out that mutual fund assets under management are below 25 per cent of GDP, with urban participation at approximately 15 per cent and rural participation at 6 per cent.
“There’s huge opportunity in deepening mutual fund penetration,” Pandey declared, noting that 22 per cent of non-investors aware of mutual funds plan to invest in the next year.
The SEBI Chairman added that the regulator will conduct a comprehensive review of short-selling and securities lfinishing and borrowing norms to align them with global standards.
Pandey, however, admitted that India’s securities lfinishing market is underdeveloped compared to other markets, reiterating commitment to reforms aimed at enhancing transparency, liquidity, and investor-frifinishliness.
–IANS
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