India joins stock market giants

This month, fund manager Abhay Agarwal received an unexpected influx of calls from international investors displaying more than a passing interest in India.

- 

Agarwal, founder of Mumbai-based Piper Serica Advisors, noted a shift in seriousness among these investors, many of whom had never considered investing in India before.

They are now inquiring about the safety of their investments and the existence of a rule of law in the country.

This heightened interest coincides with India's stock market reaching record highs. The market value of companies listed on India's exchanges surpassed $4 trillion in late November, as reported by Refinitiv. India boasts two major exchanges: the National Stock Exchange of India (NSE) and the BSE, Asia's oldest bourse formerly known as the Bombay Stock Exchange. The NSE, now the seventh-largest bourse globally, has surpassed Hong Kong in daily transaction value, according to data from the World Federation of Exchanges.