The BCAS’ ReImagine 2024 event, organized by the Bombay Chartered Accountants Society, featured insights from prominent figures in the financial industry, including Raamdeo Agrawal, Chairman of Motilal Oswal Financial Services, and other industry experts. Agrawal emphasized the favorable environment for well-managed, large unlisted companies to go public, citing the record 42 lakh demat accounts opening in December as a significant economic event. The event also included discussions on India’s potential in artificial intelligence and projections for India’s economic growth.
Raamdeo Agrawal, the Chairman of Motilal Oswal Financial Services, emphasized the favorable environment for well-managed, large unlisted companies to go public during the BCAS’ ReImagine 2024 event organized by the Bombay Chartered Accountants Society. He highlighted the decade of the Indian capital market and encouraged individuals to increase their allocation in equities. Agrawal’s statements were made in the context of a record 42 lakh demat accounts opening in December, which he described as the most significant economic event in India since 1992.
Agrawal expressed that well-managed large unlisted companies would benefit from going public as it allows them to extend the life of their company beyond themselves. He emphasized that listing the company separates the management from the ownership and management of the company, enabling it to thrive independently.
The event also featured a panel discussion on ‘Ride the Capital Market- Take the Bull by its Horn,’ which included Kotak AMC Managing Director Nilesh Shah and Deven Choksey, Managing Director at DRChoksey FinServ Pvt. Ltd. During this discussion, Shah highlighted India’s potential in artificial intelligence (AI), stating that about 30% to 35% of programming going into AI has an Indian hand.
Additionally, NSE’s MD CEO Ashish Chauhan, at the same event, projected India’s growth to 10X from $10 trillion to $100 trillion in the next 50 years or even earlier. He also emphasized the significant role of technology in creating wealth, stating that the new technology revolution will generate more wealth in the next 50 years than in the last 10,000 years in the world. Chauhan also highlighted NSE’s contribution to India’s economy, stating that one out of every three rupees in India comes out of NSE and boasting of NSE’s technological superiority over its global peers.
This event provided valuable insights into the Indian capital market, the potential for large unlisted companies to go public, and the role of technology in wealth creation.