Securities Markets Conclave
Must mobilise domestic, global capital to become developed econ by 2047, says CEA
This story was originally published at 12:42 IST on 26 February 2026
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NEW DELHI – In order to become a developed economy by 2047, India will require sustained mobilisation of both domestic and global capital, Chief Economic Adviser to the government V. Anantha Nageswaran said Thursday. "The objective is not merely to attract financial flows, but to channel them towards productive investments that enhances productivity, strengthens infrastructure, fosters innovation, and generates employment," he said at the Global Securities Markets Conclave 2.0 in Gujarat International Finance Tec-City.
"A financial system that combines technological sophistication, with institutional prudence can add as a stabilising force in an increasingly uncertain global environment," he said. Highlighting issues such as relying heavily on technological advancements like the use of artificial intelligence, the chief economic advider said, "Technology alone cannot build vibrant financial markets. The financial ecosystem flourishes when regulators, market participants, and innovators perform complimentary roles."
"Policymakers can provide stability, predictability, but liquidity, innovation, and market depth ultimately depend on investors, intermediaries, and institutions," Nageswaran said. In this regard, "India's journey reflects an effort to contribute constructively to the evolving global financial system," he added.
He urged investors, asset managers, and financial entrepreneurs to bring capital with patience and constructive engagement. "Long-term demonstrable commitment to India's productive economy reduced the cost of capital for everyone who wants returns. Be partners with regulators on sandboxes and pilots that build resilience rather than evade scrutiny," he said. Nageswaran exhorted the banking and fintech community to use India's digital public infrastructure responsibly to lower transaction costs.
Gross FDI inflows into India rose 16.2% on year to $73.31 billion in Apr-Dec. However, the net FDI inflows were only $3.99 billion in the first nine months of the current financial year, as repatriation rose to $44.45 billion during the period. End
US$1 = INR 90.89
Reported by Sagar Sen
Edited by Tanima Banerjee
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