Tuhin Kanta Pandey, Chairman of the Securities and Exchange Board of India (SEBI), emphasized the resilience and global competitiveness of India’s capital markets during remarks at the IMF-World Bank Spring Meetings. Speaking at an event organized by the Confederation of Indian Industry in conjunction with the US-India Business Council, Pandey noted that India’s markets have developed into a crucial structural component of the financial ecosystem, capable of mobilizing large-scale capital even amidst geopolitical instability and market fluctuations.
Pandey indicated that India is strategically positioned to serve as a dependable hub for global capital in uncertain times, bolstered by robust institutional frameworks, a growing domestic investor demographic, and ongoing infrastructure investments. His discussions with global investors and financial institutions in Washington focused on India’s regulatory environment and long-term market prospects.
Strong Fund Mobilization
In the fiscal year 2026, India successfully raised over $154 billion through equity and debt markets, underscoring a sustained appetite from investors. Currently, mutual fund assets under management are approaching $900 billion, while commitments to Alternative Investment Funds (AIFs) have surpassed $175 billion. Pandey highlighted the significant domestic investor participation alongside steady foreign inflows, with foreign portfolio investors (FPIs) accounting for nearly 17% of listed equity, managing assets worth about $780 billion.
The market’s growth has been further supported by active initial public offerings (IPOs) and a diverse sectoral base that includes healthcare, consumer services, energy, commodities, and technology.
Debt Markets
There has also been a concerted effort to enhance non-equity market segments. India’s corporate bond market is nearing $650 billion in outstanding value, while Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) are gaining momentum as financing vehicles for long-duration assets. Pandey noted that these segments are increasingly recognized as vital for funding infrastructure and sustaining broader economic growth.
He reiterated that SEBI’s regulatory framework is facilitative, risk-based, and consultative, aimed at balancing investor protection, market development, and integrity. Recent reforms include the introduction of T+1 settlement cycles, shorter IPO timelines, net settlement for FPIs, and various measures to enhance market access for international investors. Additionally, governance standards for market infrastructure institutions have been strengthened.
Looking ahead, SEBI plans to further streamline capital-raising procedures, simplify FPI registration, and establish a dedicated digital portal for foreign investors. Other initiatives include harmonizing Know Your Customer (KYC) norms across regulators and easing compliance requirements for non-resident Indian investors. Pandey reaffirmed SEBI’s commitment to advancing equity, debt, derivatives, and private capital markets.
Market participants have expressed the need to enhance secondary market liquidity, raise investor awareness, and address taxation challenges, particularly within fixed-income markets.
Published on April 17, 2026.
