President's Message
National President’s
Message – August 2026
“The strength of a
capital market is measured not only by the capital it raises, but by the trust
it creates.”
Dear Members,
India’s capital markets are entering an important phase of
structural transformation. A strong capital market is built not only on growth
and innovation, but also on continuous engagement, responsible intermediation
and the collective efforts of all stakeholders.
As India’s capital markets continue to expand in scale,
participation and sophistication, ANMI’s responsibility as the voice of capital
market intermediaries becomes increasingly significant. It gives me great
pleasure to connect with you through this edition of the ANMI Journal.
The past month has been particularly active for the
Association, with sustained engagement across regulatory, industry, technology,
compliance and knowledge-sharing platforms. These initiatives reflect our
continued commitment to staying closely connected with our members and engaging
constructively with Regulators, Exchanges, MIIs and other stakeholders.
India’s Capital Markets: A Structural Shift
Recent insights from the NSE
Market Pulse highlight an important structural shift in India’s capital
markets. Domestic investors are playing an increasingly prominent role, with
FPI ownership in NSE-listed companies falling to its lowest level in over 17
years, while domestic mutual fund ownership has reached a record 11.6%. Overall DII ownership has
exceeded FPI ownership for seven consecutive quarters.
The growing participation of Indian households, through both
mutual funds and direct equity investment, is strengthening market depth and
resilience. At the same time, it places an even greater responsibility on
market intermediaries to uphold investor awareness, transparency, governance,
risk management and responsible intermediation.
India’s growing role in the global economy further reinforces the
importance of our capital markets. Strong growth in services exports, a US$216.6 billion services trade surplus in
FY26, rising equity fundraising and participation of around 1.43 crore investors underline the
increasing role of capital markets in connecting household savings with
productive investment.
At the same time, AI, algorithms, digital infrastructure, new
products and evolving regulations are transforming the way markets operate. The
intermediary of tomorrow will need to combine technology and innovation with
strong governance, compliance, cybersecurity, risk management and investor
protection.
ANMI: Engaging, Representing and Connecting
The ANMI National Secretariat continued to maintain a strong
industry presence during the month.
Our participation in the 118th
and 119th Brokers’ Industry Standards Forum meetings provided valuable
opportunities to discuss regulatory developments, industry concerns and
practical challenges faced by members. We also participated in the SEBI Techsprint Meeting, which
highlighted the growing role of technology and innovation in financial markets.
Our engagement at FICCI CAPAM 2026 enabled an exchange of views on key developments and emerging opportunities in the capital markets. The ASSOCHAM IX National Summit & Awards on Corporate Bond Market provided meaningful discussions on strengthening India’s corporate bond ecosystem.
ANMI also participated in the 13th India Association Congress 2026 in Kolkata, providing an opportunity to connect with industry leaders and exchange perspectives on the evolving role of professional associations. At the MCX Global Commodity Conclave, valuable insights were shared on the changing dynamics and opportunities in the commodities market.
We were also pleased to join the celebrations marking 30 Years of NSE Clearing. We congratulate NSE Clearing on this important milestone and recognise its contribution over three decades towards strengthening India’s clearing and settlement infrastructure.FICCI
CAPAM 2026ASSOCHAM
IX National Summit & Awards on Corporate Bond Market
ANMI also participated in the 13th India Association Congress 2026 in Kolkata, providing an
opportunity to connect with industry leaders and exchange perspectives on the
evolving role of professional associations. At the MCX Global Commodity Conclave, valuable insights were shared on the
changing dynamics and opportunities in the commodities market.
We were also pleased to join the celebrations marking 30 Years of NSE Clearing. We
congratulate NSE Clearing on this important milestone and recognise its
contribution over three decades towards strengthening India’s clearing and
settlement infrastructure.
Knowledge Sharing and Member Engagement
Knowledge sharing remains one of ANMI’s key priorities. During
the month, ANMI organised webinars in association with NSE, NSEIX and NSDL, covering subjects including F&O contracts
on the Nifty India FPI 150 Index, opportunities at NSEIX International
Exchange, API Standardisation and the NSDL API Suite, and NSE Dated Brent Crude
Oil (Platts) Futures.
These programmes are designed to keep members informed about new
products, technology developments and emerging opportunities across the market.
The Western Region
maintained an equally active calendar of member-focused initiatives, with
programmes covering AP Onboarding & Risk Surveillance, NSE Indian Natural
Gas Futures, the Closing Auction Session (CAS), Inspection and Audit – Best
Practices and Common Observations, and Shorter Tenure SLBM Contracts.
A major highlight was StockTech
Gujarat 2026, held in Ahmedabad on 22 August. The programme provided an
important platform for interaction on technology, market developments and the
changing requirements of the broking industry.
I appreciate the efforts of the Western Region leadership,
committee members and Secretariat in maintaining consistent and meaningful
engagement with members.
The TKK Region also
participated in the ANMI Day
Celebrations, contributing to the Association’s pan-India spirit and
reinforcing the importance of active regional participation.
Shaping the Future Together
As we move forward, our priority must be to ensure that ANMI
remains relevant, responsive and
future-ready.
Technology, AI, new market products, evolving regulatory
expectations and changing investor behaviour are reshaping our industry at an
unprecedented pace. Our role is not merely to adapt to these changes, but to
actively participate in shaping the direction in which our markets evolve.
ANMI’s strength comes from the collective voice of its members
and the active contribution of every Region, Committee and office bearer. I
therefore encourage all our members to participate actively in ANMI’s
initiatives, share their perspectives on industry and regulatory matters, and
continue supporting our collective efforts to build a stronger and more
progressive capital-market ecosystem.
The opportunities before India’s capital markets are immense.
With collaboration, innovation, responsible conduct and a shared sense of
purpose, I am confident that we can contribute meaningfully towards making
India’s markets deeper, stronger, more
trusted and globally competitive.
“The next decade
will not simply be a period of growth for India’s capital markets; it will be a
period in which their depth, reach and global significance are fundamentally
transformed.”
Let us move forward together — with one voice, one purpose and one shared commitment to the growth of
India’s capital markets.
President's Thought
"Leadership is measured not by the challenges we
face, but by the value we create together."
Stronger Members. Stronger Markets. A Stronger India.
Warm Regards,
Kamlesh Shroff
National President, ANMI