Ahmedabad: India’s Wealth Expected to Surge 1,000% Over Next 50 Years, Says NSE CEO
Ashishkumar Chauhan, Managing Director and CEO of the National Stock Exchange (NSE), expressed confidence on Wednesday that India’s wealth will increase by 1,000% over the next 50 years, driven by its young population and technological advancements.
Chauhan made this assertion while speaking as the chief guest at the 23rd convocation ceremony of the Entrepreneurship Development Institute of India (EDII) near Ahmedabad. He acknowledged that India continues to face significant socio-economic challenges, including poverty, illiteracy, inadequate housing, substandard living conditions, and insufficient access to food, water, sanitation, and healthcare.
Addressing the graduating students, Chauhan urged them to become “agents of change” and to devise innovative, cost-effective solutions to these pressing issues.
“India is poised for substantial progress over the next 50 years, fueled by a youthful population, rapid technological development, and a vibrant entrepreneurial spirit. We anticipate a tenfold increase in India’s wealth during this period,” he stated.
Chauhan emphasized that technological advancements will play a crucial role in this wealth creation, suggesting that the economic gains of the next five decades could surpass those of the past 10,000 years.
“India is uniquely positioned to generate more wealth than other nations, thanks to several factors, including our young population and technological integration. In contrast, countries such as those in Europe, Japan, and China are experiencing aging populations. The United States could face a similar situation if the migration of Indians declines. In India, 20% of the population is young,” he noted.
“If India’s young population succeeds in creating 25% of the world’s wealth in the next 50 years, the nation, currently seen as economically disadvantaged, could ascend to a higher income bracket. Our current per capita GDP is quite low, but over the next five decades, we have the potential to join the ranks of wealthy nations,” the NSE chief added.
Chauhan also highlighted that technological advancements are enabling ordinary people to start their own businesses with minimal capital investment.
