Economic Survey praises Indian stock markets: ‘Exemplary performance’

Indian stock markets outperforming globally in FY24, owing to resilience and strong domestic investor base, says Economic Survey.

India's growth story is powered by the capital market as there is an increased share in capital formation and investment landscape owing to advances in technology, innovation and digitisation, the Economic Survey 2023-24 tabled in Parliament noted. Indian markets are resilient to global geo-political and economic shocks, it said.

A screen displays stock numbers outside the Bombay Stock Exchange (BSE) building in Mumbai.(PTI)

Even heightened geopolitical risks, rising interest rates and volatile commodity prices could not stop the Indian stock markets which have been one of the best performing among emerging markets in FY24, the Economic Survey said.

"The exemplary performance of the Indian stock market compared to the world and emerging markets over the years can be primarily attributed to India’s resilience to global geo-political and economic shocks, its solid and stable domestic macroeconomic outlook, and the strength of the domestic investor base," the document tabled by Finance minister Nirmala Sitharaman in Parliament said.

This comes as BSE benchmark Sensex has surged around 25 per cent in FY24 and the 30-share index touched the 80,000 mark this month.