The Indian economy will rise to $100 trillion in the next 50 years, says National Stock Exchange (NSE) managing director and chief executive officer Ashish Chauhan.
“If the world is going to create $250 trillion of more wealth and we as almost 18% of the total world population, and 20–22% of the young population, we might create 30% of total wealth,” he said at the Bombay Chartered Accounts Society’ Reimagine 2024. The economy is expected to hit $10 trillion by 2030.
On the role of technology, Chauhan said that new technology will help create more wealth in the next 50 years than in the last 10,000 years.
Currently, there are 85 million investors, out of which more than 20 million are women. More than 50 million households, investing directly in stock markets, account for 17-18% of India’s total households.
“India’s 17% of households are now investing in completely third-party enterprises. It is a great leap of faith,” Chauhan said.