Agrawal said that well-managed large unlisted companies would want to make their company live beyond themselves and it is only possible by listing the company and separating the management from the ownership and management of the company.
Agrawal was speaking at BCAS’ ReImagine 2024 event organised by Bombay Chartered Accountants Society (BCAS) which is celebrating its Platinum Jubilee. The three-day event on ReImagining concludes today.
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This is the decade of the Indian capital market, he said as he urged the people to increase their allocation in equities.
He said this during a panel discussion on ‘Ride the Capital Market- Take the Bull by its Horn’ which also had Kotak AMC Managing Director Nilesh Shah and Deven Choksey, Managing Director at DRChoksey FinServ Pvt. Ltd.
Kotak AMC’s Shah said that India has a great chance of doing something fundamental in AI as about 30% to 35% of programming going into artificial intelligence has an Indian hand.At the same event on Friday, NSE’s MD CEO Ashish Chauhan had said that India will grow 10X from $10 trillion to $100 trillion in the next 50 years or even earlier.
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“If the world is going to create $250 trillion of more wealth, and we have almost 18% of the total world population, and 20-22% of the young population, we might create 30% of total wealth,” Chauhan said.
Speaking on the role of technology he added that the new technology revolution will create more wealth in the next 50 years than it was created in the last 10,000 years in the world.
On the role of NSE, Chauhan said that one out of every three rupees in India comes out of NSE. He also boasted of NSE’s tech superiority over its other global peers. “In terms of the technology of transaction processing, there is no similar country in the world. On some days, we do 40-45% of all trades in the world at NSE.”
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