PR No – 102
30th April, 2025
New Delhi
Shri Ajay Tamta, Hon’ble Minister of State (Road Transport & Highways) Government of India emphasizes on role of capital & commodity market in financing the economy at PHDCCI’s event
Shri Ajay Tamta, Hon’ble Minister of State (Road Transport & Highways) Government of India emphasized the significant contribution of capital markets and commodity markets in financing the economy at PHDCCI 7th Annual Convention On Capital Market & Commodity Market with the theme Financial Markets: Leading The Way To Viksit Bharat held today at PHD House, New Delhi
The Hon’ble Minister appreciated PHDCCI for its commendable efforts and stated that the Government is working actively towards fulfilling the dream of a developed India as envisioned by the Hon’ble Prime Minister in the Viksit Bharat@2047 mission.
He shared how the road network has significantly improved, with all-weather roads being built. Further he appreciated the vision of GIFT City under the leadership of Hon’ble Prime Minister Shri Narendra Modi, where India is setting ambitious goals. He discussed that road networks are now connecting villages to major cities and capitals through new greenfield and elevated roads projects. India takes pride in having the largest road network, supported by a budget of ₹3 lakh crore. He mentioned the recent breakthrough in the Silkiyara Tunnel and India’s adoption of advanced technologies, further strengthening the country’s market. He asserted that the combined strength of the Government and industry will make Viksit Bharat a reality.
He concluded by saying that the deliberations of this event must be shared with the Government and his ministry, and he assured that they will take action on it.
Mr. Shekhar Chaudhary, Director (SM) – Financial Market Division, Department of Economic Affairs, Ministry of Finance highlighted how fast India has dematerialized securities. Post-pandemic, individual investor participation has grown significantly. For Viksit Bharat, the Government understands that a major part of investments must be routed through capital markets.
India has seen a surge in IPOs from startups. Going forward, regular dialogue between Government, regulators, and financial markets is essential to strengthen this ecosystem.
Mr. Ashok Agarwal, Executive Chairman & Founder, Globe Capital Market Ltd., speaking on the contribution of capital markets, said that in 2000, the total deposit was ₹10 lakh crore, which has now increased to ₹225 lakh crore that is 22.5 times higher. The market capitalization now stands at $5 trillion, which is double that of bank deposits, indicating why deposits are flowing more into capital markets because of higher returns. On average, returns in capital markets are 10 times higher than those from bank investments.
He emphasized that road construction requires capital, and for capital, the capital market is essential. To achieve the vision of Viksit Bharat, India’s per capita income needs to grow 10 times, from $2100 to at least $21,000, requiring a GDP of around $25–30 trillion. Capital markets will play the biggest role in this growth. He also said that we need systems and instruments where interest rates are decided in India itself.
Mr. Pranjal S Jayaswal, General Manager, SEBI, elaborated on the role of financial markets and SEBI in building Viksit Bharat, and how to remain resilient against external shocks. SEBI’s mandate includes market regulation, development, and investor protection. With better risk management and cost efficiency, market effectiveness improves. SEBI is working to shift the settlement cycle from T+1 to T+0—settling trades on the same day.
To build investor confidence, SEBI has revamped the complaint resolution system, introduced an online dispute resolution platform, and established 51 investor service centers across India.
Mr. Pradeep Ramakrishnan Executive Director, IFSCA explained IFSCA’s vision as a unified regulator for SEZs, covering verticals like banking (including 64 banks), capital markets, fund management, and even four foreign universities. IFSCA aims to offshore the onshore—making India a hub for global capital and innovation. He believes retail investors will significantly benefit from this ecosystem.
Mr. Supriyo Gupta Regional Head, National Stock Exchange informed that NSE is one of the Indian companies in the global top five. Last year, NSE led the world in IPOs, India has been number one globally in derivatives for the past six years, with 82% of global volume coming from Indian derivatives and the average age of investors is 35.8 years, with 24.8% of them are women. He also highlighted India’s Social Stock Exchange for not-for-profit organizations, where investors have an opportunity to contribute for social causes.
Mr. B.K. Sabharwal, Chair, Capital Market & Commodity Market discussed that conventions like this help discuss key national economic indicators. He also announced that PHDCCI and GIFT City will enter a formal knowledge-sharing agreement in June.
Dr. Ranjeet Mehta, CEO & Secretary General, PHDCCI shared that where the Ministry builds physical expressways, the capital markets build financial expressways. He added, India now has the second largest highway network globally. The travel time from Champawat in Almora district has reduced from 14 hours to 6.5 hours. He emphasized the need for a multimodal transport system, combining financial and physical infrastructureboth critical for Viksit Bharat.
Mr. Ashok Gautam, Managing Director & Chief Executive Officer, IIBX Ltd. informed that IFSCA is more of a facilitator than just a regulator. He shared insights on bullion exchange and informed that in 2022, 411 kg of trade occurred, which rose to 7,928 kg the next year. This year, trade has already crossed 101 tons and is expected to reach 140–150 tons.
He concluded by expressing hope that GIFT City will continue to drive India towards a robust financial ecosystem.
Vote of Thanks was delivered by Mr. Narinder Wadhwa Co-Chair, Capital Market and Commodity Market Committee, PHDCCI.
The event was powered by Globe Capital Market Limited, NSE Ltd., Central Depository Services (India) Limited, Findoc Investmart Pvt. Ltd., India International Bullion Exchange IFSC Limited, Steel City Securities Limited, Moneylicious Securities Private Limited, Share India Securities Limited, SMC Global Securities Limited, SMIFS Capital Markets Limited, South Asian Stocks Limited, Star Finvest Pvt. Ltd., Wealth Discovery Commodities Private Limited, Narnolia Group, MSEI, Agroy Finance & Investments Pvt. Ltd. Tata Mutual Fund, SN Capital and was supported by PHDCCI Annual Corporate Partners, KLJ Resources Ltd.; Mankind Pharma;KEI Industries Ltd.;MMG Group;Gigleaz Private Limited;Yashoda Super Specialty Hospitals Pvt. Ltd.;JK Tyre & Industries Ltd;Eazy ERP Technologies Pvt Ltd;Singhi Advisors & Financial Services LLP;R. L. Steel Pvt. Ltd.;Blossom Kocchar;Hindustan Tin Works Ltd.;Hindustan Tin Works Ltd.;Ajit Industries Ltd.;Apeejay Stya Group;Oswal Greentech Limited;Speciality Merchandising Pvt. Ltd.;Shivtek Spechemi Industries Ltd.;Speciality Merchandising Pvt. Ltd.
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Warm Regards,
Media Division, PHDCCI