Ashish Chauhan is a man of many talents. In his 22-year career, he has been the CIO of Reliance Industries, run the same company's corporate communications department, started his own entrepreneurial venture, and even managed an IPL team. As the CEO of BSE, Asia's oldest stock exchange and one of the largest exchanges in the world, Chauhan is faced with the task of reviving the bourse. Chauhan has created a strategy to rewrite BSE's growth story. In this interview, he talks about his game plan for BSE's revival, that includes healthy doses of IT.
CIO: Can you share your vision for BSE?
Ashish Chauhan:Ashish Chauhan: BSE is an Indian exchange. Our motive is to help India create wealth. Our motive is to help people who want to save, invest in 'productive capital'--by investing in companies that require these funds. These companies will then create new jobs. India needs to create 2.5 crore jobs every year for the next 20 years. Jobs cannot be created without investment. They cannot be created by investments in real estate, gold, silver or other unproductive assets. If you invest in the stock market you are investing in the nation's economic growth, while benefitting yourself. BSE is a catalyst in capital formation and job creation in India. That is our vision for BSE. We want to create profitable returns for Indians and foreigners who invest in creating new jobs in India. It's a vision for India, Indian investors, and companies investing in India.
CIO: What have you done to make the exchange global?
Ashish Chauhan:We are a local exchange, but, in a sense, we are global because one in every six humans stays in India. That's a large number, so in a sense, we have a very important international role to play. BSE is one of the largest exchanges in the world by the number of companies listed. It's the fourth largest by number of index options laid, and the fifth largest by number of trades. We are among the top exchanges in the world. In that sense we are a global exchange with a vision for India. Since its inception, BSE has helped India create a wealth to the tune of $1.2 trillion. But the idea is to help India create $12 trillion of wealth. Today, we have 2.5 crore investors. Can we have 25 crore investors by 2030? Can we have a market cap of $12 trillion by 2030? How can we help promote long-term economic growth? How can we allow foreigners to invest in India in a way that is conducive to their investment horizons and objective? These are the questions we ask ourselves. When we are able to create an investment culture which will take the number of investors from 2.5 crore to 25 crore then our vision and objective for BSE will be met.
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