FM eyes expansion in retail investor base

FM eyes expansion in retail investor base
India's Finance Minister P Chidambaram said on Saturday that he is hopeful of an increase in the retail investor base from 1.6 crore at present to 15 crore as he stressed on the importance of retail partition in the stock market of Asia's third biggest economy.

While foreign institutional investors' (FII) hefty participation is what has mainly driven the rally in Indian stocks, retail participation is one of the lowest compared to other economies.

India's largest bourse, the National Stock Exchange (NSE) has completed 20 years and has also established itself as the top five stock exchanges in the world over the years.

"Standards set by NSE are a benchmark not only to other exchanges but the whole capital markets", Chidambaram said.

"For the NSE to have had the opportunity to be an instrument of reform, if NSE has claimed its space amongst the top few exchanges in the world, a lot of that credit will go to the reform process, visionaries in the industry, Sebi and other regulatory bodies, stakeholders, market participants, many of whom are present today, and the list is long," NSE Managing Director and Chief Executive Officer Chitra Ramakrishna said.

Dion Global Solutions Ltd.

Story first published: Monday, December 16, 2013, 9:11 [IST]
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