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India’s decade of transformation under Modi

Financial Express Mumbai

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September 17, 2025

WHEN NARENDRA MODI took office in May 2014, India was a nation with enormous promise but uneven delivery. Eleven years later, the story has been rewritten in bold strokes: a more confident economy, deeper social inclusion, and markets that reflect a new global stature.

- NIRMAL JAIN

Back in 2014, the Sensex hovered around 24,700 and the Nifty at 7,350. Today, they stand at nearly 82,000 and 25,000 - more than tripling under Modi's tenure. Market capitalisation of BSE-listed firms has surged from about ₹85 lakh crore to over ₹460 lakh crore, a more than fivefold leap. Even in dollar terms, India's equity market has grown from roughly $1.2 trillion to between $4.4-5.5 trillion, placing it among the world's top markets.

These numbers are not just financial milestones - they mirror confidence in India's reforms, stability, and corporate dynamism.

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