Speaking to ET Now, Ramamurthy highlighted that India’s GDP growth of 7.8% in the last quarter reflects rising demand and effective policy reforms, including GST, tax cuts, and structural changes. “India is in a very important position globally with its consumption story, rising middle class, and energy independence drive. The growth momentum is here to stay,” he said.
On concerns around persistent selling by foreign portfolio investors (FPIs), Ramamurthy pointed to strong support from domestic institutional investors (DIIs) and retail investors. “If FPIs sell Rs 7,000 crore, DIIs are ready to buy Rs 10,000 crore. This financial muscle comes from mutual fund inflows, driven by household savings. Indian markets today are resilient, unlike earlier times when global shocks had a bigger impact,” he explained.
Deepening vital for market strength
Ramamurthy also spoke about BSE’s efforts to deepen the derivatives market. With expiry day changes and an increase in non-expiry week contracts, he noted growing participation. “We are seeing 3–5% growth in volumes from next-week and monthly contracts. This deepening is vital for market strength,” he said.
On the IPO pipeline, Ramamurthy said India has raised around $10 billion through IPOs in the last eight months, with $15 billion already approved by SEBI and another $20 billion in the pipeline. He stressed the importance of SME listings, noting that over 600 SMEs have already listed, with the last 100 raising Rs 4,000 crore in fresh capital.
The mutual fund industry, he added, has also seen rapid growth. Monthly orders have tripled in the last 30 months, crossing 6.5 crore orders per month. With India’s young population and rising financialisation, he expects mutual funds to continue expanding beyond the top 30 cities.“Good times lie ahead for equity markets. I am born positive,” Ramamurthy said, underlining his optimism for both the economy and markets.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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