India's market cap rises 6x in 11 years, reflects trust in reforms: NSE CEO tells foreign envoys

In a first-of-its-kind initiative, the Foundation for Public Awareness and Policy (FPAP) on Monday brought together the heads of foreign missions in Delhi and the National Stock Exchange of India (NSE) for a high-level interaction centred on the role of capital markets in India's journey towards becoming a developed nation by 2047. The session was themed "Road to Viksit Bharat: Contribution of Capital Markets."

Ashishkumar Chauhan, Managing Director and CEO of NSE, addressed the envoys, stating: "Interacting with the heads of missions in Delhi underscores our commitment to positioning India's capital markets as a global benchmark, driving economic diplomacy and investor confidence. Under Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman India has become the fourth largest capital market globally after USA, China (including Hong Kong) and Japan."

He added that India's market capitalisation had increased over six times in the last eleven years — from Rs 74 lakh crore (US$1.2 trillion) in May 2014 to around Rs 450 lakh crore (US$5.2 trillion) in 2025. "This surge reflects growing public trust in the Government of India, Indian entrepreneurs, and the country’s future," he said.

The interaction was hosted by Dr Vijay Chauthaiwale, Vice Chairman and Trustee of FPAP, and moderated in the presence of FPAP Chairman Dr Anirban Ganguly. Chauthaiwale said, "At the FPAP, our dialogues with the heads of missions in Delhi strengthen India's global partnerships. Economic growth is fundamental to attaining the goal of Viksit Bharat by 2047...To this effect, the role of the NSE is vital. NSE is the country's leading stock exchange, is the gateway to the Indian economy and the country's first fintech company, as well as the first technology leader. Through such interactions with institutions such as the NSE, we aspire to bridge India's financial strength with global aspirations."

The event aimed to foster a deeper understanding of India's capital markets among the diplomatic community and explore how market depth, regulatory clarity, and the integration of technology are enabling the NSE to emerge as a world-class exchange. The session also provided insights into India’s progress on financial inclusion, sustainable finance, and infrastructure-linked investments — all of which are central to the economic vision articulated by Prime Minister Modi.

Heads of foreign missions expressed interest in the scale and structure of India's financial ecosystem and discussed the opportunities for international investors. FPAP announced plans to hold more such engagements to align India's domestic economic momentum with its global partnerships.