The Economic Survey 2023-24, presented in Parliament on Monday, highlights the increasing importance of capital markets in India’s economic growth
The survey points to the expanding role of these markets in capital formation and investment, driven by advancements in technology, innovation, and digitization.
Indian capital markets have shown remarkable resilience to global geopolitical and economic disruptions. Despite facing heightened geopolitical tensions, rising interest rates, and fluctuating commodity prices, the Indian capital markets have outperformed many emerging markets in FY24. The BSE benchmark Sensex has surged by approximately 25% during the fiscal year and continued its upward trajectory into FY25, briefly surpassing the 80,000 mark on July 3.
The report attributes the strong performance of the Indian stock market to its ability to withstand global shocks, a robust domestic macroeconomic environment, and a strong base of domestic investors. Finance Minister Nirmala Sitharaman tabled the document, emphasizing the resilience and stability of the Indian capital markets in comparison to global and emerging market trends.
(With inputs from agency)
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