Finance Minister Nirmala Sitharaman stressed the importance of integrity-driven growth in India’s capital markets during SEBI’s 38th foundational day event in Mumbai. She highlighted the need for stronger and more transparent markets over sheer expansion, emphasizing quality over size. Sitharaman stated that growth without governance is unsustainable and called for a focus on better markets, not just bigger ones.
Sitharaman pointed out that the journey towards Viksit Bharat will require significant investment in various sectors like infrastructure, manufacturing, and innovation. She emphasized the role of well-regulated capital markets in financing this journey, highlighting SEBI’s crucial role in this process. The finance minister also noted India’s increasing integration with global financial systems, emphasizing the close connection of the country’s capital markets with international investors and cross-border capital flows.
In light of the evolving financial landscape, Sitharaman urged SEBI to engage in more frequent and substantive consultations with global counterparts and market participants. She highlighted the importance of addressing emerging issues such as cross-border fraud, AI use in markets, sustainable finance disclosures, and settlement interoperability. Additionally, Sitharaman emphasized the need for enhanced vigilance against cyberattacks, noting the rapid evolution of AI-led tools in this regard.
