New Delhi, May 30 (IANS) India has emerged as the information technology (IT) capital of the world and the National Stock Exchange (NSE) has been a pioneer in utilising the vast digital public infrastructure to help millions trade via its high-tech digital platform, NSE Managing Director and CEO, Ashish Kumar Chauhan, has said.
Chauhan emphasised that the NSE pioneered technology in 1994, during the time of the IT boom. Later, during the Y2K era (the year 2000), the NSE showcased India’s technological capabilities, attracting big contracts and becoming a hub for small companies to demonstrate their expertise.
“Today, technology is our fuel, and India is the IT capital of the world. Technology has brought the biggest shift and change in the world,” he said during a podcast conversation with Kailash Adhikari, MD of Sri Adhikari Brothers.
The NSE introduced the country’s first fully automated, screen-based order matching system in 1994. This innovation underscored India’s emerging prowess in the IT sector. Today, the NSE has become the world’s largest stock exchange.
In 1994, India had fewer than 10 lakh investors. Today, that number has grown to more than 11 crore.
Chauhan further stated that technology has been a key driver of India’s growth story. “When it comes to technology, India is the world leader. Technology has played a huge role in India’s growth story. A society that adopts IT will progress,” he said during the podcast.
The country has become a global IT hub, he said, adding that over 2,000-3,000 international IT companies have set up their bases in India, leveraging the country’s exceptional talent pool.
” Now, with iPhones being manufactured in India, servers and electronic chips too will soon be made here. Be it Microsoft or Google, they get their AI work done from our talent,” said Chauhan, adding that “the NSE acts as a catalyst for the Indian economy”.
India’s market capitalisation has grown more than 120 times since 1994, when the NSE began operations. Today, it stands at over Rs 440 lakh crore or $5.1 trillion.
The market capitalisation of NSE-listed companies has increased nearly six-fold in the last 11 years, and the market cap-to-GDP ratio has doubled from 60 per cent in FY14 to 124 per cent in FY25.
–IANS
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