NSE Chief Urges Entrepreneurs to Seize Capital Market Opportunities

New Delhi, january 31, 2026: In a powerful rallying cry to the nation’s business leaders, Ashishkumar Chauhan, Managing Director and CEO of the National Stock Exchange (NSE), declared that “India’s time has come.” Speaking at a high-profile industry event in Mumbai on January 30, 2026, Chauhan urged entrepreneurs to move beyond traditional funding and tap into the country’s burgeoning capital markets to fuel the next chapter of economic growth.

Chauhan’s address comes at a pivotal moment. The NSE recently received a long-awaited “No Objection Certificate” (NOC) from SEBI, clearing the regulatory path for its own landmark IPO. This development underscores a broader theme: the democratization of wealth and the rising power of the Indian retail investor.

A Market Built on Trust and Technology

Chauhan highlighted the staggering scale of India’s financial ecosystem. With over 12.5 crore unique investors, he noted that if the NSE’s investor base were a country, it would rank among the top 10 most populous nations in the world.

“One-third of India’s economic value is now reflected in the NSE,” Chauhan said. “We have built a unique ecosystem where even smaller enterprises can raise capital, accessing markets that were previously the exclusive playground of industrial giants.”

He attributed this shift to two primary drivers: Technology and Demographics. While aging economies in Europe and East Asia face stagnation, India’s young population is adopting digital infrastructure—like UPI and automated banking—at a pace unmatched globally.

The Shift to “Capitalism Without Capital”

One of the most striking points of Chauhan’s address was the concept of “capitalism without capital.” In the modern era, technology allows founders to create massive value with relatively little initial investment.

• Linear vs. Non-Linear Growth: Traditional industries required heavy machinery and decades to scale. Today’s tech-driven startups use “brains and hard work” to achieve non-linear outcomes.
• The Role of SMEs: The NSE’s SME platform has seen nearly 1,400 listings over the last 13 years, with over 20% of those companies successfully migrating to the mainboard.
• Domestic Funding: For the first time, Indian growth is being significantly funded by domestic savings rather than a heavy reliance on foreign capital.

A Moral Compass for Founders

While encouraging listings, the NSE chief issued a stern reminder regarding Corporate Governance. He emphasized that trust is the “bedrock” of the market. Chauhan advised promoters to prioritize transparency, especially as millions of first-time retail investors enter the fray.

“Whenever in doubt, take the decision in favor of the other investors, not yourself,” he cautioned. “Even if a move is legally allowed, if it isn’t morally correct, don’t do it. Trust is easy to destroy but incredibly difficult to rebuild.”

The Road Ahead

As the NSE prepares for its own public debut—valued at over ₹5 lakh crore in the unlisted market—the message to entrepreneurs is clear: the infrastructure is ready, the capital is available, and the “investor nation” is waiting. For the Indian entrepreneur, the path to global leadership now runs through the ticker tape of the stock exchange.