India’s NSE Becomes 7th Largest Stock Exchange In The World
India’s stock market is making big news! Our NSE, bigger than BSE in daily transactions, has just surpassed Hong Kong’s stock exchange. Now, the National Stock Exchange (NSE) is the world’s 7th largest stock exchange.
Many international investors are suddenly very interested in India. They’re from places like Europe and the USA. Abhay Agarwal, a fund manager, says they’re asking if their investments will be safe in India and about our country’s laws.
Our stock market is reaching new heights. The total value of companies on Indian exchanges crossed $4 trillion recently. We have two main exchanges – the NSE and BSE. The NSE’s growth has been so strong that it’s now more significant than many global exchanges.
The International Monetary Fund thinks our economy will grow by 6.3% this year. Some experts believe it could be as high as 7%. Our economy expanded by 7.6% in the quarter ending September 30, which is faster than expected.
In contrast, China, our neighbor, is facing economic troubles. Their stock markets are down. This difference between India and China is attracting more investors to us.
India’s stock market is also driven by local investors. Big global risks don’t affect us as much. Big companies are starting to see India as a key place for business. Apple, for example, is making more products here. Several companies are shifting their manufacturing units, servers, and offices from other countries to India.
However, there are challenges ahead. With general elections coming in 2024, foreign investors might be cautious. They’re waiting to see what happens. But many believe Prime Minister Narendra Modi’s party will win, which could mean stability.
India’s stock market is doing really well, attracting global attention. But, we must remember, that the stock market isn’t the full picture of our economy. We need to create more jobs and have growth that includes everyone. The stock market mainly shows how big companies are doing, not the smaller ones, which are also important.