Voice Of Capital Market

Association Of National Exchanges Members Of India

President's Message

Dear Members,

Greetings from ANMI!

October 2025 has been an eventful month, both for the Indian economy and for ANMI’s continued initiatives across the nation.

1.      Macroeconomic & Policy Developments

The month witnessed several encouraging signals underscoring India’s economic resilience and its growing global stature. According to a report by DBS Bank, India’s GDP is projected to grow at an average of 6.7% between 2025 and 2040, outpacing China’s 3% growth for the same period.

The Reserve Bank of India (RBI) issued draft guidelines to simplify cross-border inward remittances, enabling Indians abroad to send money home more swiftly and efficiently — a move expected to boost inward flows and digital payments infrastructure.

Globally, the US Federal Reserve cut interest rates by 25 basis points for the second consecutive time this year, to a range of 3.75–4%, amid concerns about slowing economic activity. Meanwhile, the Bank of Japan maintained its policy rate at 0.5%, highlighting a continued accommodative stance.

At the national level, Union Minister Piyush Goyal reiterated that India is poised to overtake Germany to become the world’s third-largest economy within two years, a goal supported by the Government’s focus on trade diversification and export competitiveness. Complementing this vision, NITI Aayog unveiled a forward-looking roadmap titled “Reimagining Manufacturing: India’s Roadmap to Global Leadership in Advanced Manufacturing,” aimed at positioning India among the top three global hubs by 2035.

Other key developments included the Government’s plan for next-generation power reforms to address the challenges faced by debt-laden discoms, and a renewed emphasis on the blue economy as a core driver of India’s “Viksit Bharat 2047” vision.

In the private sector, India’s pharma and healthcare industries recorded a 166% surge in deal value in Q3 2025, while companies like Tata Motors, Dabur India, and Adani Airports announced major strategic initiatives in LNG, digital ventures, and AI-driven infrastructure respectively — signalling ongoing innovation and expansion across sectors.

With such strong momentum, the macroeconomic environment continues to offer optimism for investors and the capital market ecosystem.

2.      ANMI Activities & Highlights

October was also a month of pride and celebration for ANMI. Together with the National Stock Exchange (NSE), ANMI celebrated Diwali 2025 on 17th October at NSE Headquarters, Mumbai, in a glittering ceremony that brought together members, dignitaries, and families from across India. The event was graced by Shri Ashishkumar Chauhan, MD & CEO, NSE; Shri Vikram Kothari, MD & CEO, NSE Clearing Ltd.; Shri Sriram Krishnan, Chief Business Development Officer; and Shri Piyush Chourasia, Chief Regulatory Officer. I had the honour of felicitating Shri Ashishkumar Chauhan for his exemplary leadership and steadfast support to the broking community.

Adding to the festive joy, ANMI was conferred the “Best Supporting Industry Association Award” by the National Stock Exchange of India on 21st October 2025 during the Diwali Puja & Muhurat Trading Ceremony at NSE Exchange Plaza, Mumbai. Shri Kamlesh Shroff, Alternate President, ANMI, received the award on behalf of our Association.

Across India, regional events showcased the spirit of unity and collaboration. The ANMI–EIRC Diwali Meet 2025, held on 11th October at Nishtara, Salt Lake, was an evening of music, games, and fellowship, creating cherished memories for members and their families.

The Northern Region’s Members Diwali Milan 2025 at Chelmsford Club, New Delhi, on 15th October witnessed enthusiastic participation and was graced by Shri Ashishkumar Chauhan as Chief Guest and myself as Guest of Honour. Both of us shared perspectives on the evolving market landscape and the critical role of members in upholding investor trust and market integrity.

The Southern Region’s Diwali celebration, hosted jointly by ANMI–TKK Region and NSE at Chennai, began with my address followed by Shri Sriram Krishnan’s reflections on the festival’s spirit. A lively cultural show organized by NSE added colour and enthusiasm to the evening.

Investor Education & Knowledge Series

As part of IOSCO World Investor Week 2025, under the aegis of SEBI, ANMI organized multiple Investor Awareness Seminars on 10th Oct, 25 at GNVS Institute of Management on “Fraud and Scam Prevention” and “Basics of Investing” were graced by Shri D.V. Sekhar , CGM, SEBI and on 11th Oct, 25 at K.P.B. Hinduja College, Mumbai on “Fraud and Scam Prevention” and “Basics of Investing” were graced by Shri Sahil Malik, CGM, SEBI and addressed by ANMI leadership including Shri Kamlesh Shroff, Alternate President, ANMI and Shri Mahesh Desai, Director, ANMI.

In addition, ANMI As part of IOSCO World Investor Week 2025 -under the aegis of SEBI organised student competitions (Elocution, Quiz, and Poster Making) aimed at fostering financial literacy and creative engagement among youth.

As part of IOSCO World Investor Week 2025, ANMI organized a webinar under the aegis of SEBI on “Fraud and Scam Prevention” and “Basics of Investing” on 11th October 2025. Eminent speakers Mr. Jay Prakash Gupta, Founder, Dhan Securities & Co-Founder, Dhan Financial Services and Mr. Manoj Agarwal, Group Chief Compliance Officer.

ANMI, in association with NSE, on 15th Oct, 25 organized a webinar on “Ease of Doing Business – Rationalization and Standardization of Penalties Levied on Trading Members.” Senior NSE officials shared insights on simplifying compliance processes, standardizing penalties, and fostering a more efficient business environment.

Regional Webinars:
On October 8th, 2025, ANMI WR successfully hosted a comprehensive webinar focused on the “Common Instances (reasons) of KRA Rejections” in collaboration with leading KYC Registration Agencies including NSE, NDML, CVL, CAMS, and KARVY.

On October 9th, 2025, ANMI WR hosted a webinar under aegis of World Investor Awareness Week 2025 on " GIFT IFSCA: Navigating Capital Market Opportunities". We invited Guest speakers from IFSCA and NSEIX, Mr. Pradeep Ramakrishnan, ED IFSCA, Mr. Saurabh Kumar, Manager, IFSCA, Mr. Paras Jain, Assistant Manager, IFSCA, Mr. Meet Pandya, Head - Business and Product Development, NSE IX and Mr. Dharmesh Tejani, Head - Business and Product Development, NSE IX.

As part of IOSCO World Investor Week 2025, ANMI–TKK Region organized a webinar on “Insights on Fraud Prevention, Scam Alerts, and Smart Investment Practices” on 11th October 2025, attended by around 75 participants.

These initiatives reaffirm ANMI’s commitment to enhancing knowledge, compliance culture, and investor protection across the broking community.

3.      International Convention

We have planned to have our Internation Convention at Chennai on 10th January 2025. An advertisement has been placed in this journal. All are invited to this great event and block your date for the same.

4.      Looking Ahead

At ANMI, our focus continues to be on empowering members through education, engagement, and ethical practices. The active participation of members in webinars, CSR initiatives, and interactive programs reflects our shared commitment to excellence and transparency in market operations.

As we move forward, together, we can strengthen our role in nation-building and uphold the values of integrity, innovation, and inclusion that define ANMI.

"Individually, we are one drop. Together, we are an ocean." —Ryunosuke Satoro

Warm regards,
CA K. Suresh
National President, ANMI