Putting Money In Stocks Will Create More Jobs: NSE's Ashish Chauhan At India Economic Summit 2024

Ashish Chauhan, MD & CEO of the National Stock Exchange ( NSE ) on Tuesday said that only 30 out of 19,300 pin codes in India do not have an NSE -registered investor.

Speaking at the India Economic Summit 2024 at the Republic Media Network Headquarters, Ashish Chauhan said that the government's initiatives have helped more investors to join the India growth story.

“Today India has 10.5 crore unique investors with 20 crore accounts on NSE ,”  he said, adding that there are “10.5 unique PAN number accounts is 20 per cent of India’s household.”

This number has quadrupled from 2.5 per cent pre-COVID times. "Today only 30 out of 19,300 pincodes do not have an NSE registered investor. This did not happen because the government forced it, it happened within,” he said.

This has happened not just because KYC is digitised but also because India has become prosperous.

Chauhan said that someone sitting in Assam is today investing in a company in Tamil Nadu because of the digital infrastructure in the country. “In the last 77 years of Independence, India has become a more trustful nation, trusting its entrepreneurs,” he said.

He also added that there is no better service in the country than creating wealth and providing jobs which entrepreneurs do. Chauhan said that in 2014, wealth in the stock markets was Rs 64,000 crore. Today it is Rs 440 lakh crore.

The Republic Media Network is hosting the fourth edition of the highly anticipated India Economic Summit today at its headquarters — the largest news center in Asia. The summit brought together a diverse group of leading policymakers, business moguls, and industry experts to explore the economic roadmap for a prosperous, developed India.

Under the theme "Viksit Bharat: Bullseye," the event focuses on India’s potential to emerge as a $50 trillion economy by 2047, aligning with the country's aspirations for innovation, infrastructure development, and inclusive growth.

Nirmala Sitharaman , India’s Finance Minister, was the Chief Guest at the grand event. With her experience in leading the country’s fiscal policy and financial reforms, her keynote address provided invaluable insights into the government’s vision for the Indian economy.