India’s Capital Markets to Drive Inclusive Wealth Creation and Viksit Bharat Vision by 2047: Shri Sudhanshu Trivedi at PHDCCI’s 8th Annual Convention

The PHD Chamber of Commerce and Industry (PHDCCI) successfully organized the 8th Annual Convention on Capital Market & Commodity Market on the theme “Democratising Wealth Creation: Inclusive Capital Markets for a Prosperous India” on Friday, 8th May 2026 at PHD House, New Delhi. The convention brought together policymakers, regulators, financial market experts, industry leaders, and market participants to deliberate on the growing role of inclusive capital markets in India’s economic transformation.

The Welcome Address was delivered by Mr. Mohit Luthra, Assistant Secretary General, PHDCCI, who welcomed the distinguished dignitaries, industry leaders, and participants and highlighted the importance of strengthening financial inclusion and investor participation for building a resilient and prosperous economy

The Chief Guest Shri Sudhanshu Trivedi, Hon’ble Member of Parliament, Rajya Sabha and National Spokesperson, BJP, while addressing the gathering, highlighted India’s remarkable economic transformation under the leadership of Hon’ble Prime Minister Shri Narendra Modi, stating that India has emerged as the world’s 4th largest economy, 4th largest stock market, 3rd largest automobile manufacturer, and the global leader in digital transactions, contributing nearly 49% of all digital transactions worldwide through UPI. Emphasising the success of Jan Dhan Yojana, DBT and digital inclusion, he noted that over 56 crore Jan Dhan accounts have been opened, enabling direct transfer of benefits and significantly reducing leakages in welfare delivery. He underlined the exponential rise in Demat accounts from 2.2 crore in 2014 to over 21 crore today, reflecting deepening financial inclusion across districts and smaller towns. Shri Trivedi also highlighted India’s growing global stature in manufacturing, defence production, exports, semiconductors, electronics, startups and infrastructure development, citing investments by global companies such as Foxconn, Samsung and Google. Referring to India’s increasing role in global growth and geopolitical trust, he stated that the world now sees India not merely as a superpower, but as a “world friend and world guru” capable of motivating and guiding the global community. He further cautioned against divisive narratives based on region, language and identity, stressing the need for national unity to sustain India’s economic rise and achieve the vision of Viksit Bharat by 2047.

Mr. Deepak Ranjan, Director (Financial Markets), Department of Economic Affairs, Ministry of Finance, in his address highlighted that the Government of India’s ongoing efforts to strengthen transparency, accountability, and efficiency in India’s financial regulatory framework through the proposed Securities Market Code. He noted that the reform aims to consolidate the existing SEBI Act, Securities Contracts Regulation Act, and Depositories Act into a single, comprehensive legislation, thereby streamlining the regulatory architecture of India’s capital markets. Emphasizing the importance of consultative policymaking, he stated that the new framework seeks to institutionalize greater stakeholder participation, periodic regulatory reviews, and a more transparent rule-making process to ensure that India’s securities market ecosystem remains robust, responsive, and globally competitive.

While addressing the gathering Ms. Shashi Kajle, Director (Financial Markets), Department of Economic Affairs, Ministry of Finance, talked about India’s rapid transformation into a globally significant financial and economic powerhouse, driven by inclusive capital markets, digital public infrastructure, and expanding retail participation. She noted that India’s market capitalization has grown to nearly USD 5 trillion, supported by over 21 crore demat accounts, rising mutual fund participation, and strong fintech adoption, reflecting a major shift towards formal and long-term wealth creation. She further emphasized the role of digital initiatives such as Jan Dhan, Aadhaar, mobile connectivity, and UPI in deepening financial inclusion across the country. Stressing the importance of investor trust, transparency, and wider participation, particularly among women, MSMEs, and young investors, she underlined that India’s capital markets are increasingly emerging as instruments of entrepreneurship, innovation, and national development. She also highlighted the growing significance of GIFT City in strengthening India’s integration with global financial markets and supporting the country’s long-term vision of inclusive and sustainable economic growth.

Dr. D K Aggarwal, Former President, PHDCCI, highlighted India’s emergence as a rapidly growing economic powerhouse, stating that the country is on track to become a USD 20 trillion economy by 2047, with capital markets expected to play a transformative role in wealth creation. Emphasizing the theme of democratizing wealth creation, he noted that advancements in digitalization, financial innovation, and regulatory reforms have made investments increasingly accessible to common households through products such as mutual funds, SIPs, ETFs, bonds, and fractional ownership platforms. He further underlined the strong investor protection framework established by regulators, which has significantly enhanced trust and safety in Indian markets. Highlighting the remarkable long-term growth potential of Indian equities, he expressed confidence that India’s capital markets would continue to expand rapidly, creating unprecedented opportunities for inclusive and sustainable wealth creation.

While addressing the masses Mr. Pradeep Ramakrishnan, Executive Director, IFSCA, talked about the extraordinary evolution of GIFT City into a globally emerging international financial hub, reflecting India’s growing prominence in the international financial ecosystem. Emphasizing the vision behind the development of GIFT-IFSC, he noted that the centre was established to create a world-class financial and business environment comparable to leading global financial destinations. He further shared that GIFT-IFSC today hosts over 1,500 registered entities across international banking, capital markets, insurance, fintech, investment funds, and foreign universities, while steadily strengthening its position as a strategic gateway for global capital flows, innovation, and next-generation financial services.

Mr. Narinder Wadhwa, Co-Chair, Capital Market & Commodity Market Committee, PHDCCI, in his closing remarks said that despite global political uncertainties and tensions in West Asia, India’s growth story remains strong and resilient. He emphasized that financial inclusion is the need of the hour and highlighted the importance of converting savers into investors and citizens into stakeholders in India’s economic growth journey. He also shared that the convention would further deliberate on emerging opportunities across various market segments and asset classes.

The session was moderated by Mr. B. K. Sabharwal, Chair, Capital Market & Commodity Market Committee, PHDCCI, who facilitated engaging discussions on strengthening investor participation, expanding financial literacy, and leveraging capital markets as a catalyst for inclusive economic development.

The convention concluded with a strong call for enhancing financial literacy, encouraging wider retail participation, and building globally competitive capital markets that support India’s vision of becoming a developed economy by 2047. The deliberations reflected a shared commitment towards creating a transparent, resilient, and inclusive financial ecosystem for sustainable wealth creation.

During the convention, PHDCCI also launched the Knowledge Report titled “Profit Pool Analysis for Selecting Emerging Industries and Stocks in India”, providing key insights into emerging sectors, investment trends, and future growth opportunities in the Indian economy.

The inaugural session was followed by panel discussions on Investment During Uncertain Times: Opportunities and Challenges for Wealth Creation and Investment, Empowerment and Financial Inclusion through various Asset Classes. Distinguished speakers included Mr. Gurmeet Chadha, CIO & MD, Complete Circle; Mr. Ashu Madan, MD, JM Financial Services; Mr. Kunal Saraogi, SEBI Registered Research Analyst; Dr. Sharad Kohli, Tax Guru, Founder & Chairman, KCC Group; Dr. Neha Singh, Editor, DRS Insights; Mr. Ankur Jalan, CEO, Golden Growth Fund; Mr. Jayendra Malhotra, Senior Economist; Mr. Puneet Agarwal, Element One Alternatives; Dr. Ravi Singh, Chief Research Officer, Master Trust Ltd. & Mr. Sanjeev Gupta, MD, NEXGEN Financial Solutions.

The event witnessed enthusiastic participation from representatives of government bodies, regulatory authorities, stock and commodity exchanges, market intermediaries, law firms, financial institutions, academia, and industry associations. Interactive technical sessions and panel discussions enabled meaningful exchange of ideas and recommendations for strengthening India’s financial architecture.

The Convention was supported by Globe Capital as the Presenting Partner; MSEI as an Exchange Partner; NSDL as Depository Partner; Wealth Discovery as the Associate Partner; Choice Broking, Dhan, Jainam Securities, SMC Capital, Steel City Securities, Starfinvest & SMIFS Ltd. as Co- Partners; Findoc, Agroy, Nexgen & Golden Globe Fund as Supporting Partners, Anand Rathi as the Logo Partner & The CPAI as the Association Partner.

The convention was attended by more than 250 delegates and reaffirmed the critical role of robust, transparent, and inclusive capital and commodity markets in shaping India’s growth story. The enriching discussions on investor participation, regulatory reforms, technological advancements, financial literacy, market resilience, and the expanding role of India in global financial markets provided meaningful direction for the future.