MSE: Building the capital markets of a Viksit Bharat

As India moves towards Viksit Bharat @2047, MSE is building for a capital market that is more competitive, resilient and accessible.

India’s capital-market story has entered a new era. The question is no longer whether Indians will invest. They increasingly are. India now has about 13.9 crore unique investors and more than 21 crore demat accounts, participation that has expanded far beyond the country’s traditional financial centres.

The bigger question is: What kind of market will the next 100 million Indians inherit?

As India advances towards the vision of a Viksit Bharat @2047, the answer must be more than a larger market. It must be a market that is deeper, more accessible, more competitive, technologically stronger and resilient by design. Metropolitan Stock Exchange (MSE) sees itself as a catalyst in steering this vision forward.


Recognised by Securities and Exchange Board of India (SEBI)as a national-level stock exchange, MSE aspires to be a credible new choice for investors, businesses and market intermediaries, competing on what matters: technology, reliability, liquidity, products, access and cost.

Because a rising India deserves a strong and competitive financial infrastructure.

Why choice matters

Competition has transformed industries across India. It has encouraged innovation, lowered costs and expanded access in sectors ranging from telecom and aviation to digital payments and consumer technology. Capital markets should follow the same path because competition is not just about competing; it is about building a better market for everyone.

Globally, plurality is normal. The United States has over 2 dozen exchanges, including multiple venues competing for equity trading. Germany has seven and Japan has five. Such diversity demonstrates that competition and deep markets can coexist.

For India, a stronger third exchange is about strengthening the architecture of the market.

In critical infrastructure, credible alternatives enhance resilience. In financial markets, competition can encourage innovation, improve efficiency and create additional channels for capital formation and price discovery.

Taking capital markets to every corner of Bharat!

The next wave of investors will come from younger Indians, tier-2, tier-3 and beyond, emerging entrepreneurs and households increasingly shifting savings towards financial assets. The ambition must be that participation is not determined by geography.

From Mumbai to Manipur, from Ahmedabad to Assam from Kashmir to Kanyakumari, from established financial centres to India's smallest towns, the opportunity to participate in the nation's growth story should increasingly be within reach.

MSE is building towards that ambition through a network of brokers, pan-India enablement and infrastructure designed to make participation increasingly accessible.

It is also competing on cost. With transaction charges as low as ₹10 per crore in the equity segment, MSE aims to reduce friction for market participants. At scale, even small reductions in cost can matter, particularly to new investors and intermediaries serving India's next generation of participants.

Technology, liquidity and resilience

MSE's platform spans equity, and index derivatives, debt and currency derivatives, with more than 250 listings and over 3100 companies available for trading. Its technology architecture is built around high availability and resilience, supported by disaster-recovery infrastructure. Its Liquidity Enhancement Scheme is designed to deepen order books and strengthen price discovery.

These are not simply exchange metrics. They are components of a larger economic system.

Better liquidity can improve execution. Better price discovery can strengthen confidence. Greater participation can make markets more attractive to businesses and efficient access to capital can help enterprises expand, invest and create employment.

From investors to stakeholders in India's growth

An exchange is part of the infrastructure through which savings become investment, investment becomes enterprise, enterprise creates employment, and enterprise contributes to national growth. The capital market opportunity is very essential and important to the Viksit Bharat journey.

India will require enormous amounts of capital to build infrastructure, finance innovation, scale businesses and create the jobs of tomorrow. Domestic savings can become an increasingly powerful source of that capital but only if markets are deep, trusted, competitive and accessible.

As MSE's MD & CEO, Ms. Latika S. Kundu, puts it, investing is about “building the future , supporting dreams and creating lasting legacies.” That is the larger purpose.

The next 100 million investors should not simply inherit the market that exists today. They should inherit a better one: more choices, better technology, stronger competition and greater resilience.

MSE looks to build that market reaching investors and enterprises across the length and breadth of Bharat, such that its contribution will extend beyond the growth of an exchange. It will be about widening the circle of Indian wealth creation.

A future where millions actively participate in India’s growth, shaping and sharing in its prosperity. That is the capital market of Viksit Bharat @2047.