The Indian capital markets are entering a new orbit and the best is yet to come, says BSE MD & CEO S. Ramamurthy

/10 min read
magazine-cover-image
This story belongs to the issue:
January 2026
Read Full E-Magazine

This story belongs to the Fortune India Magazine January 2026 issue.

The MD & CEO says the domestic capital markets are not at a cyclical high, as he decodes the building blocks of the BSE's operational excellence.

ADVERTISEMENT

The Indian capital markets are entering a new orbit and the best is yet to come, says BSE MD & CEO S. Ramamurthy
According to BSE MD & CEO Sundararaman Ramamurthy, equity culture is yet to develop in a big way in India, and so, offers huge room for growth. Credits: Apoorva Salkade

IT’S A RECORD YEAR for the capital markets in terms of fundraising. The Sensex is at an all-time high. In the three years under your leadership, BSE has shown phenomenal operational excellence in terms of revenues and profit. Could you take us through the operational layers that helped you achieve these excellent numbers?

It has been three very eventful years. BSE is completing its 150th celebration. The Sensex is completing 40 years, and we’re in the ninth year of BSE’s listing… it is significant hard work from BSE and cooperation, coordination, guidance, and support from all of my stakeholders — be it my brokers, the investors in BSE, the investors who trade through BSE, the regulators, [and] board members. Every stakeholder has been very supportive, cooperative, coordinating, and guiding. And of course, [we’ve had] a bit of luck as well. In every one of the areas — be it listing mainboard or SMEs, mutual fund operations, our index company, derivatives where we never had any opening at all for 20-plus years — BSE has seen significant growth over the past three years.