The number of investors in the stock market has reduced in the last 20 years despite many technological advances and there is a need to introspect as to what led to the fall, BSE Chief Executive Officer Ashishkumar Chauhan said on Friday.
"We have done tremendous automation in the stock markets, we have set up automated exchanges.
“Even old exchanges have been automated. We have set up clearing houses, we have set up derivatives markets, but the number of investors in the last 20 years actually reduced," Chauhan said at the Skoch event in New Delhi.
"25 years back in 1991, there were 3 crore (30 million) investors, today there are less. What has been done wrong, probably we need to introspect", he said.
Chauhan said, though India moved from Licence Raj to reforms long back, still there is a need for removing red tapism to unleash the potential of India.
"Over the period of 25 years, we have removed Licence Raj, but we have increased many things.
“There is a need for removing red tapism to unleash the potential of India", he said.
He said the National Stock Exchange was set up as a partv of the reforms process and there is a need for continuous reform and transform process.
"But we have a long way to go and. . . we could not have achieved anything if we had not reformed," he added.
Image: The Bombay Stock Exchange. Photograph: Kind courtesy, Bombay Stock Exchange