NSE's Chief Business Officer Bullish on Indian Economy Amid FPI Sell-Off

Mumbai, 15th October 2023 - Despite recent sustained selling by Foreign Portfolio Investors (FPIs) in Indian stock markets, Sriram Krishnan, Chief Business Officer of the National Stock Exchange (NSE), remains optimistic about India's economic future. In a statement to ANI, Krishnan emphasized that the current sell-off does not reflect any fundamental issues with India's economic prospects, maintaining that the country continues to be a compelling destination for global investments.

Krishnan highlighted that the recent volatility in the markets can be attributed to external factors such as the uncertainty around the US elections. "In the last month, due to the US elections, there was a bit of uncertainty, and many feel that the FPI selling we've seen is a result of this," he explained. However, he reassured that "India's story remains strong and attractive as an investment destination."

The NSE executive also touched upon the upcoming IPO of the NSE itself. While awaiting regulatory approval, Krishnan was non-committal on a specific timeline but affirmed, "As and when we get the regulatory approval, we will proceed with the IPO."

Additionally, Krishnan discussed the NSE's efforts in investor education, noting that the exchange conducts around 20,000 investor awareness programs annually. "We encourage anyone interested to participate in these events or utilize the resources available on our website," he stated, underscoring the NSE's commitment to enhancing investor knowledge and participation.

Krishnan's confidence in India's market resilience and the NSE's proactive approach in investor engagement and regulatory compliance underscores a robust outlook for the Indian economy, even amidst global uncertainties.