NSE Chief Bullish on Indian Economy Amid FPI Sell-Off

Mumbai, October 10, 2023 - Sriram Krishnan, Chief Business Officer of the National Stock Exchange (NSE), remains optimistic about the Indian economy despite sustained selling by Foreign Portfolio Investors (FPIs) in recent times. Addressing the current market dynamics, Krishnan emphasized that the sell-off does not reflect any fundamental weaknesses in India's economic framework.

Krishnan highlighted that the volatility seen in the Indian stock markets, particularly over the past month, could be attributed to global uncertainties, such as the US elections. "A lot of people feel that the selling we have witnessed is because of the elections, the run-up to the elections where there was a neck-to-neck situation being seen by many," he remarked, as per an ANI report.

However, he reassured that India's long-term growth story remains intact. "India seems to be a very strong, attractive investment destination. It continues to be so, and we don't see any fundamental challenges," Krishnan stated, expressing confidence in the continued interest of investors in trading on the NSE.

Regarding the NSE's much-anticipated IPO, Krishnan mentioned that the exchange is currently in the process of obtaining necessary regulatory approvals. "As and when we get the regulatory approval, we will do the IPO. We don't have any specific timeline right now," he clarified.

In an effort to enhance investor education and awareness, Krishnan also pointed out NSE's commitment to conducting about 20,000 investor awareness programs annually. "So anybody who is desirous of learning more can participate in these events or depend on the resources available on our website," he added.

Krishnan's statements come at a time when market watchers are closely monitoring the impact of global economic shifts and local policy changes on India's investment landscape. Despite the FPI outflows, the NSE's leadership remains steadfast in its belief in the resilience and potential of the Indian economy.