India’s G20 Presidency Opens Doors for Global Investment and Sustainable Economic Growth: Mr. Pankaj Chaudhary Hon’ble Minister of State for Finance, Ministry of Finance, Government of India

PR No – 467

28th October, 2023

New Delhi




India’s G20 Presidency Opens Doors for Global Investment and Sustainable Economic Growth: Mr. Pankaj Chaudhary Hon’ble Minister of State for Finance, Ministry of Finance, Government of India



PHD Chamber of Commerce and Industry (PHDCCI) today hosted the 6th Annual Convention on Capital Market & Commodity Market under the theme “INDIA SHINES BRIGHT @ G20: Pioneering Financial Market Digitization & Regulations” at its headquarters, PHD House, New Delhi.


Mr. Pankaj Chaudhary Hon’ble Minister of State for Finance, Ministry of Finance, Government of India in his remarks appreciated PHDCCI and its 118 years’ legacy of playing an important role in shaping the business model of the country.

Hon’ble Minister further highlighted India’s G20 presidency and how it transforms businesses and India’s story in the financial economy. He said that under the able leadership of Hon’ble Prime Minister, Shri Narendra Modi, significant developments were made with world leaders. Our honourable PM has inspired India to transform obstacles into opportunities and aspirations into achievements.

India’s G20 presidency has opened doors for global investment. We know that the G20 will support the financial sector in ensuring sustainable economic growth and the stability of financial markets.

In the last 10 years, continuity of policies, rapid growth, capital expenditure of over Rs 10 lakh crore, together have resulted in the roots of democracy in India to get deepened, and making India an attractive destination for investment.

Speaking on Digitisation, he said, the development of digital infrastructure is an important step in enhancing trade and commerce in the country. The adoption of digitalization in our capital markets have increased efficiency, transparency and accessibility. Further, by reducing intervention and embracing technology, we can improve the integrity and security of our capital markets.

Over the past few years, especially after the pandemic, the capital markets and investment services industry have experienced significant growth. Retail participation with new individual investors joining the stock market have increased.

He exuded confidence that in the times to come and under the able leadership of Honorable Prime Minister with well-planned and balanced policies of the government, we are paving the way for financial resilience, Hon’ble Minister concluded.


Mr. Sanjeev Agrawal, President, PHDCCI emphasized that the theme of today’s Capital Market & Commodity Market Convention very aptly states – India Shines Bright, as INDIA is indeed shining bright amongst its G20 partners and we are in the era of pioneering financial market digitization. India has significantly advanced on its development goals, increased efficiency in the public sector and unlocked innovation in the private sector by adopting the approach of building Digital Public Infrastructure.

Hosting the G20 summit has provided India with global visibility and recognition. This has boosted investor confidence and we are sure to attract foreign investment into Indian capital markets. Further India can advocate for policies and reforms that support capital market growth including promoting regulatory transparency, investor protection, and market integrity, concluded, Mr. Agrawal.


Mr. Hemant Jain, Sr. Vice President, PHDCCI said that the Capital Market & Commodity Market Convention will serve as an invaluable platform for industry leaders, investors, and regulators to exchange insights and ideas. He expressed confidence about the potential for growth and innovation within India’s financial markets, with focus on the importance of continued collaboration to ensure a robust and resilient ecosystem.

Dr. Shashank Saksena. Senior Economic Advisor, Deptt. of Economic Affairs, Ministry of Finance, Government of India, said that while the use of new digital technology might improve efficiency and production, it can also dislocate and destabilize existing financial architecture and frameworks. So the task is to reap the benefits of this transformational architectural change while minimizing the expense of creative destruction and avoiding financial stability hazards.

Mr. Ashwani Bhatia, Whole Time Member Securities and Exchange Board of India, discussed the role of technology. He said that the financial markets are now entirely computerized, which is a powerful catalyst and paradigm changer in the true sense in trading system. He said that now the role of technology has increased such that anyone can trade from even at the click of cell phone. From the old T+14 badla system, we are now at T+1 settlement system.


Mr. Sriram Krishnan, Chief Business Development Officer, National Stock Exchange of India Ltd, said,  the number of DMAT accounts that are opened month after month is approximately 30 lakh. This implies that there is an active retail activity, and that retail participation is increasing. As a result, retail investors now account for around 37% of the total number of investors.


Mr. Ashok Agarwal, Executive Chairman & Founder, Globe Capital Market Ltd., explained, considering the capital market, the China Sanghai index was about 833 in 1993 and is now around 3000. China’s GDP has expanded three times faster than India’s GDP. However, in these 30 years, India’s capital market has returned five times more than China’s capital market.

Mr. B K Sabharwal, Chair, Capital Market and Commodity Market Committee, PHDCCI, moderated the session and urged the Hon’ble minister to look into matters such as NACL and cost of transaction.


The convention was supported by Angel One, Choice Equity, Globe Capital Markets, Share India, Zerodha as the Event Sponsors; CDSL as Depository Partner; MCX as the Knowledge Partner.  Associate Sponsors included Adroit, Anand Rathi, BSE, Moneylicious, Findoc, HDFC Securities, IIFL Ltd., NSDL, NSE, SAS Online; SMC Investments; SKI Capital, Starfinvest, Steel City, StockKart, & Wealth Discovery. CPAI was the Association Partner of the Convention.

The Convention was also supported by PHDCCI’s annual sponsors, DLF Ltd; Jindal Steel & Power; KLJ Group; Multani Pharmaceuticals Ltd; Marble City; MMG Group; Radico Khaitan Ltd;  Uflex Ltd; Vestige; Eazy ERP Technologies; JK Tyre & Industries Ltd; Sagar Group of Industries; Superior Industries Limited; Samsung India Electronics; Oswal Greentech; Apeejay Stya Group; Blossom Kochhar Beauty Products Pvt Ltd; DCM Shriram;  R E Rogers; Trident Group; Ajit Industries Pvt Ltd;  Bhagwati Plastic and Pipes Industries; Central Coalfields Ltd; DD Pharmaceutical Ltd.;  Hindware Sanitary; Jindal Steel;  Modern Automobiles;  P S BEDI & Co.




Warm Regards,

Media Division