India has firmly positioned itself as the Information Technology (IT) capital of the world, with the National Stock Exchange (NSE) playing a transformative role in leveraging technology to drive economic growth, according to Ashish Kumar Chauhan, Managing Director and CEO of NSE.
Speaking in a podcast with Kailash Adhikari, MD of Sri Adhikari Brothers, Chauhan underlined how the NSE pioneered India’s financial digitalization as early as 1994 by introducing the country’s first fully automated, screen-based order matching system. This bold step, taken during the initial phase of India’s IT boom, marked a defining moment for the country’s tech credentials.
Technology is our fuel, and India is the IT capital of the world, Chauhan stated, pointing to India’s evolution from under 10 lakh investors in 1994 to over 11 crore today.
Highlighting the Y2K moment as a breakthrough, he said that India used it to display its technological prowess to the world, eventually drawing global contracts and enabling smaller firms to gain international exposure.
When it comes to technology, India is a global leader. A society that adopts IT will progress, Chauhan said, adding that over 2,000–3,000 foreign IT firms now operate in India, drawn by its talent pool.
Citing examples, he noted that AI development by global giants like Microsoft and Google is powered largely by Indian talent. He also pointed to iPhones being manufactured in India, forecasting that servers and electronic chips will soon be produced domestically as well.
With over ₹440 lakh crore ($5.1 trillion) in market capitalization, the NSE is now the world’s largest stock exchange by number of trades, and a vital driver of India’s financial expansion. The NSE’s technological backbone has helped democratize investing and enhance capital formation.
The NSE acts as a catalyst for the Indian economy,” Chauhan stressed. “India’s digital transformation in finance and technology is a model for the world.
Since its inception, the NSE has contributed to a 120x growth in market capitalization, with the market cap-to-GDP ratio climbing from 60% in FY14 to 124% in FY25.
Chauhan concluded by emphasizing that India’s trajectory toward becoming a developed nation is closely tied to its digital strength and economic resilience.
