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Equity market geared up to aid India achieve $5 trillion economy mark, says Sebi chief

The Narendra Modi government plans to make India a $5 trillion economy by 2025.

SNS | New Delhi |

Securities and Exchange Board of India (Sebi) Chairman Ajay Tyagi on Wednesday said that domestic equity market is geared up to aid the country to achieve the $5 trillion economy mark. Sebi chairman was addressing the Ficci’s 17th Annual Capital Market Conference ‘CAPAM2020’.

The Narendra Modi government plans to make India a $5 trillion economy by 2025. The ambitious target was set prior to the COVID-19 pandemic. The impact of COVID-19, followed by the nationwide lockdown has made the GDP aim surreal.

Contradictory to Sebi chief’s comments, the latest reports suggests with current state of the economy paired with the condition of global trade and global uncertainty the goal is far-fetched.

Meanwhile, Tyagi acknowledged that the country is passing through a difficult, stressful and challenging time due to the Covid-19 outbreak.

Besides, Tyagi called for the development of the country’s corporate bond market.

Terming the segment as critical, he pointed that some initiatives in this regard have been taken, however, more reforms are required.

The digital conference was themed as ‘Atmanirbhar Bharat: Role of Capital Market’.