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India to be a major capital market

India can be the second largest market after US in the coming years provided it has fully gotten rid of chronic capitalism.

india Updated: Apr 07, 2006 13:34 IST

India's capital market will be the the second largest in the world with its extrapolated market capitalisation touching one trillion in three years, according to Kotak Mahindra Vice Chairman and Managing Director Uday S Kotak.

"I can say one thing, India will be the second largest capital market after the United States in the coming years, provided it has fully gotten rid of chronic capitalism," he said.

From the current market capitalisation of 700 billion, India's market capitalisation will touch, I would say a trillion in three years," he added.

In terms of volume, he said, India's market capitalisation would be in the range of $30-40 billion in four years from the current $10 billion.

First Published: Apr 07, 2006 13:34 IST