 Mr.
Ravi Narain
Deputy Managing Director, National Stock Exchange
Two decades, Ravi Narain left a promising position in Washington
as an economic and policy consultant to return home to India
and work at a state-run development bank. After 13 years there,
Narain was tapped in 1994 to create the National Stock Exchange
of India.
Narain, 44, a Cambridge University-trained economist and
Wharton MBA, attracted the attention of a reform-minded government.
After an impressive job at the development bank helping set
up India's first market regulatory agency, the Securities
& Exchange Board of India, he looked like just the bright
young public servant to create the NSE.
Today, the NSE is given a good deal of the credit for the
fast growth of stock trading in India and has has forced India's
22 existing exchanges, especially the stodgy 120-year-old
Bombay Stock Exchange, to modernize.
Narain means endemic corruption, of course, but he won't
say it. Then he smiles: ''But the Ganges never stops flowing,
and the NSE never stops working.'' To the great benefit of
the Indian investor.
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