India's Wealth To Grow 1,000% In Next 50 Years: NSE CEO

He encouraged the graduating students to become "agents of change" by devising innovative and cost-effective solutions to drive meaningful transformation

NSE's MD And CEO Ashishkumar Chauhan ( Image Source :PTI )

National Stock Exchange Managing Director and CEO Ashishkumar Chauhan expressed confidence that India's wealth will surge by 1,000 per cent over the next 50 years, propelled by its youthful population and technological advancements.

Addressing attendees as the chief guest at the 23rd convocation ceremony of the Entrepreneurship Development Institute of India (EDII) near Ahmedabad on Wednesday evening, Chauhan acknowledged that India continues to face socio-economic challenges, including poverty, illiteracy, inadequate housing and living conditions, and deficiencies in access to food, water, sanitation, and healthcare.

He encouraged the graduating students to become "agents of change" by devising innovative and cost-effective solutions to drive meaningful transformation.

"India is going to make huge progress on the back of a young population, rapid technological developments and its entrepreneurs over the next 50 years. India's wealth is going to increase 1,000 per cent, that is ten times, over the next 50 years," Chauhan said.

Chauhan expressed that with technological advancements, India is all set to generate vast amounts of wealth in the next 50 years. He emphasised that the wealth generated during this period will surpass what has been created in the past 10,000 years.

"India will be able to generate more wealth in comparison to other countries because of several factors, such as our young population and use of technology. European countries, as well as Japan and China, are becoming old. The US may also become old if Indians stop migrating there. On the other side, India has 20 per cent youngsters," he said.

"If they create the world's 25 per cent wealth in the next 50 years, India, currently seen as a poor country, would be in the higher income bracket. Our per capita GDP at present is very low. In the next 50 years, we can be in the league of rich nations," added the CEO.

He highlighted that technological advancements enable ordinary individuals to establish businesses and generate wealth with minimal capital investment.

Chauhan shared that nearly 150 SME segment companies are currently listed on the NSE EMERGE platform. This platform facilitates listing on the NSE without requiring an initial public offering, fostering connections between SMEs, startups, and investors for funding.