Tag: investment

India Surpasses Hong Kong to Become Fourth-Largest Stock Market Globally: Bloomberg Report

Staff ReporterBusiness, Economy 0

India’s stock market has achieved a significant milestone, surpassing Hong Kong to claim the title of the fourth-largest equity market globally, as per a report by Bloomberg.

As of January 22, the combined value of shares listed on Indian exchanges reached $4.33 trillion, edging past Hong Kong’s $4.29 trillion. This development highlights India’s growth trajectory, positioning it prominently within the global financial arena. Notably, the United States, China, and Japan hold the top three spots in the world’s largest stock markets hierarchy.

The Bloomberg report underscores the significance of India’s achievement, stating, “India’s stock market overtakes Hong Kong’s for the first time in another feat for the South Asian nation whose growth prospects and policy reforms have made it an investor darling.”

The journey leading to India’s ascent as the fourth-largest stock market globally can be attributed to various factors, including investor-friendly policy reforms and the sustained economic growth of the nation.

The market crossed the $4 trillion mark on December 5, 2023, and continued its upward trajectory owing to several contributing factors. These include a burgeoning retail investor base, consistent inflows from foreign institutional investors (FIIs), strong corporate earnings, and a consumption-driven macroeconomic landscape.

India’s stock market landscape is characterized by the presence of seven official operating stock and commodity exchanges, all regulated by the Securities and Exchange Board of India (SEBI). However, the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) emerge as the two primary authorities in the country’s stock market arena.

The BSE, headquartered in Mumbai, has contributed significantly to the Indian stock market with a market cap of $3.3 trillion. Meanwhile, the NSE boasts a market cap of $3.27 trillion, further solidifying India’s position as a major player in the global equity landscape.

 

India-U.S. Investment Must Increase in Both Directions, Says Ambassador

Ajay GhoshBusiness, U.S. 0

SUNNYVALE, Calif. — The U.S.-India partnership is enjoying a historic high, but investment must increase in both directions, said Indian Ambassador to the U.S. Arun Kumar Singh on July 24, during a press conference at the Sunnyvale Hindu Temple here. Singh – who took on the post in May after serving for two years as India’s ambassador in France – noted that 100 Indian companies have invested $15 billion in the U.S., creating roughly 100,000 new jobs for Americans.

Infrastructure, mobile technology and renewable energy are three sectors ripe for U.S. investment in India, said Singh, adding that the country also offers great opportunities for innovation and entrepreneurship. As an example of Indian technology innovation, Singh pointed out that India was the fourth country to send a mission to Mars and did so at about 1/10th of the cost of a similar U.S. mission. India spent just $74 million to create the Mars Orbiter Mission – also known as Mangalyaan – less than the $100 million dollar budget for the movie “Gravity.” By contrast, NASA’s MAVEN Mars Orbiter cost $672 million. The successful mission was completed in October 2014.

“The India-U.S. relationship is very strong: this is the first time a U.S. president has visited India twice while in office,” said the ambassador. “Obama has said that the India-U.S. partnership is the defining relationship of the 21st century and has called for both countries to see what we can do for the rest of the world,” he added.

Earlier in the day, Singh joined a panel discussion on the future of India at the IIT Global Leadership Conference in Santa Clara, Calif. (http://bit.ly/1H78siH). At the talk, Singh said trade between India and the U.S. is poised to grow from $100 billion to $500 billion during the next decade. Chief among India’s interests are purchases in defense and aviation, said Singh, noting that India has already purchased $10 billion in military hardware from the U.S.

The new “Invest India” initiative promoted by Indian Prime Minister Narendra Modi’s administration will figuratively hold the hands of U.S. businessmen hoping to invest in India, and help sort through bureaucratic hurdles, said Singh.

During the press conference, Singh said he would only address the U.S.-India relationship, thereby dodging predicted questions about the treatment of India’s minorities. The ambassador also would not comment on Modi’s upcoming visit to the San Francisco Bay Area this September, saying the prime minister’s trip had not yet been formally announced.

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