The Trendsetters
At the outset, let me say that the stock exchanges are an integral part of the economy and reflect the underlying growth. They are the barometer of progress of any country. If the exchanges are strong and growing, a large number of the country’s population is able to participate in their rising prosperity. It’s for this reason that stock exchanges have a very crucial role to play.
The penetration of the equity culture is just about getting started with more people being introduced to the equity markets, thanks to mutual funds. The assets under management have crossed Rs 20 lakh crore. Investors are participating through SIPs and direct investment in the equity market.
On that note, it’s nice to see Vikram Limaye heading an important institution — the NSE. Limaye has had a successful stint with IDFC, and is a perfect candidate to steer the institution to greater heights. The NSE has had its share of controversies in the recent past, but some of these issues now need to be resolved. The exchange still has plenty of work to do, though, in terms of increasing the penetration of equity and also providing the framework for risk-capital to do its job of creating wealth, growth, and jobs.
Our Cover Story, this week, anchored by our Mumbai Bureau Chief Clifford Alvares, looks at the road ahead for the NSE. The Cover Package also comes with an interview of Limaye.
If there’s the NSE, can the BSE be far behind?
The NSE has a worthy competitor in the BSE. The century old institution has also been creating a new technology platform to increase trading activities. Ashishkumar Chauhan has been instrumental in professionalising the exchange, getting new talent, introducing new platforms for investment products like mutual funds.
Alvares also interviews Chauhan and brings to you the challenges that the BSE faces.
All in all an engrossing package that you, dear readers, will enjoy.
In the second cover this issue, in a special story on the state of the economy, contributor Yatish Rajawat says that wary banks would not be able to starve Indian industry of capital. Debt instruments like Masala bonds would be among the innovative sources of funding that would give the cycle of capital flows a kickstart.
This issue comes with several other interesting stories.
Senior Special Correspondent Himani Chandna captures the phenomenon of taking the hospital to one’s home. The practice which is quite popular in Europe and in America is fast catching up in India, and provides a unique business opportunity for entrepreneurs.
Talking about entrepreneurs, Deputy Editor Suman K. Jha interviews entrepreneur-turned-politician Rajeev Chandrasekhar who shares his passion for technology and urban governance and says that Democracy 2.0 is all about technology in governance.
By the time this issue of BW would be in your hands, India would have three leading lights from the BJP-RSS family at the top three positions in the country — the President, Vice President and Prime Minister. PM Modi says that this would help in pushing the development process further.
What impact would it have on the economy and growth process? We will have to wait and watch, but I am sure we will capture it in the coming issues.
In the meantime, do keep sending your feedback.
Happy reading!
