India will grow 10X from USD 10 trillion to USD 100 trillion in the next 50 years: NSE MD & CEO Ashishkumar Chauhan

The new technology revolution will create more wealth in the next 50 years than it was created in the last 10,000 years in the world.

Bombay Chartered Accountants' Society is India's largest and oldest voluntary professional body of Chartered Accountants. On the second day of the Bombay Chartered Accountants' Society (BCAS)’s ReImagine 2024, while talking about wealth creation, NSE’s MD & CEO Ashish Chauhan said, India will grow 10X i.e., from USD 10 trillion to USD 100 trillion in the next 50 years or even earlier. 

“If the world is going to create USD 250 trillion of more wealth, and we as almost 18 per cent of the total world population, and 20-22 per cent of the young population, we might create 30 per cent of total wealth,” asserted NSE MD & CEO Ashishkumar Chauhan.

Speaking on the role of technology he added, “New technology revolution will create more wealth in the next 50 years than it was created in the last 10,000 years in the world”. Adding further on the topic, he said that societies which are young and forward-looking and adapt to technologies faster will create wealth.

While elaborating on the role of NSE, Ashish Chauhan added that today one out of every three rupees in India, which we consider as wealth, comes out of NSE. He also elaborated on the tech superiority and said, “In terms of the technology of transaction processing, there is no similar country in the world. On some days, we do 40-45 per cent of all trades in the world at NSE.”

Talking about the current investment scenario in India, he said, “Today, there are 8.5 crore investors, out of which more than 2 crore are ladies and more than 5 crore households which invest directly through stock markets account for 17 or 18 per cent of India's total households. India's 17 per cent of households are now investing in completely third-party enterprises. It is a great leap of faith.”

Commenting on the role of building trust in the ecosystem, Ashish Chauhan said, “CAs are the harbingers of trust in the capital markets of the world.” He emphasised the collective role of stock exchanges, regulators, parliament, judiciary, chartered accountants and company secretaries in creating trust for all the investors and also the general public.

The first day of ReImagine saw participation from Padma Bhushan Kumar Mangalam Birla, Chairman of Aditya Birla Group along with key industry thought leaders such as Dilip Asbe, MD & CEO of National Payments Corporation of India, Ashween Anand, CFO, Tata Starbucks, and CA Ritesh Tiwari, ED & CFO, Hindustan Unilever Limited among others.

Disclaimer: The opinions expressed above are personal and may not reflect the views of DSIJ.