NSE Chief Bullish on Indian Economy Despite FPI Sell-off

Mumbai, 14th October 2023 - Sriram Krishnan, Chief Business Officer of the National Stock Exchange (NSE), remains optimistic about India's economic future despite continuous selling by Foreign Portfolio Investors (FPIs) in the Indian stock market. In a recent interview, Krishnan highlighted that the current FPI sell-off does not reflect underlying issues within India's economic framework.

Krishnan pointed out that although there has been market volatility, the long-term outlook for India remains robust. "The India story continues to be very strong and attractive for investments," he stated, expressing confidence that India's resilience and growth prospects would continue to draw investors globally.

He attributed the recent FPI outflows partly to the uncertainty surrounding the US elections, where the close race has prompted investors to rebalance their portfolios. "Many analysts feel that the selling we have witnessed is due to the elections, but fundamentally, there are no challenges to India's investment appeal," Krishnan explained.

Discussing the NSE's strategic plans, Krishnan mentioned the much-anticipated IPO of the exchange. "We are waiting for regulatory approval to proceed with our IPO. We will move forward as soon as we receive the green light," he said, although he did not provide a specific timeline.

Additionally, Krishnan emphasized the NSE's commitment to investor education. "We conduct around 20,000 investor awareness programs every year," he noted, inviting anyone interested to participate in these educational initiatives or explore resources available on the NSE's website.

This bullish perspective from one of India's top financial market officials comes at a time when global economic uncertainties are prompting investors to rethink their strategies. However, Krishnan's confidence underscores a belief in India's enduring economic strength and potential for growth.