MUMBAI — India's economy is expected to grow at a faster pace in the coming year, supported by strong macroeconomic fundamentals and renewed foreign investor interest, National Stock Exchange (NSE) Managing Director and CEO Ashishkumar Chauhan said on Sunday, speaking to ANI at the NSE on the occasion of Diwali Muhurat trading.

Source: ANI via Daily Prabhat

Chauhan noted that India continues to be the fastest-growing large economy globally, backed by a 7.5 per cent year-on-year GDP expansion, with growth expected to accelerate further in the coming year. "India continues to be the fastest-growing large economy in the world," he said.

Source: ANI via Daily Prabhat

Foreign money turning back to India

On market liquidity, Chauhan said domestic financial savings had expanded significantly, reaching nearly USD 1.4 trillion annually, making India one of the largest pools of savings globally. He pointed to a positive shift in foreign investor sentiment ahead of the new Samvat year. "Crucially, foreign institutional investors (FIIs) have also started favouring Indian markets again, which serves as a very good omen for the upcoming Samvat year," he said.

Source: ANI via Daily Prabhat

Addressing the media at the NSE on Sunday, Chauhan expressed confidence in India's fiscal discipline and economic resilience despite volatile crude oil prices and foreign institutional investor outflows, The Hindu BusinessLine reported. Because India imports about 85 per cent of its crude oil, price spikes historically create balance-of-payments pressures, he noted, but added that India is currently managing its fiscal deficit remarkably well. "As crude prices cool and the Rupee stabilizes, we expect foreign institutional interest to revive alongside our massive domestic savings base," he said.

Source: The Hindu BusinessLine

AI tools for retail investors in the new Samvat

Chauhan also announced that AI analytics and technological upgrades will drive the retail investor experience in the new Samvat year, BusinessLine reported. The NSE has maintained nanosecond-level response times over the past year, securing its position as the fastest exchange globally, he said. His remarks came on the day benchmark indices Sensex and Nifty ended the special Muhurat trading session marginally lower amid profit-taking after a seven-day rally, even as the exchange chief struck an optimistic note for the year ahead.

Source: The Hindu BusinessLine