Chennai: Signs of recovery in India and leading economies augur well for a healthy growth in the Indian capital market, which still remains one of the pillars of the economy and it reflects immediately the current and future prospects.
With India having weathered the storm of global meltdown without any stock market scam ( except the Satyam episode) and the strong regulations in place, the Indian capital market has tremendous growth prospects, said Ms Chandra Ramesh, Managing Director, IFIN Financial services, a subsidiary of IFCI, India’s leading financial institution.
India continues to be an attractive destination for rest of the world and has an edge over others in terms of its young population with a median age of 25 compared to China’s 34, USA’s 36 and Japan’s 43. India’s working age population is also to reach 70% of the total population by 2020, she pointed out.
Speaking on " Good times ahead for Indian capital market" at an ET in campus event held recently at Dept of Management Studies, Easwari Engineering College in Chennai, she said the field offers plenty of lucrative career opportunities for the management students if they have the right skills and attitude.
The career opportunities are available with mutual funds, share broking, commodity and currency broking, FIIs, PE funds, regulators like RBI, SEBI, FMC and stock exchanges like NSE, BSE, commodity, currency and derivative exchanges.
The MBAs can pursue their career in areas like research ( fundamental and technical), marketing ( institutional and retail), operations & risk management, dealing, portfolio management services, treasury & arbitrage, back office, distribution of products, legal, secretarial accounts and compliance.
Highlighting the growth potential in the Indian capital market, she noted its share in the world turnover is only 1.12% while it is 1.53% in market capitalisation. But, it is expanding fast covering equity, debt market, commodity, power exchange, currency derivatives etc.
The achievements of Indian exchanges are also noteworthy. NSE, born in 1992, has become number one exchange with a market share of 93%. It is ranked seven in the world in terms of overall turnover.
Similarly, MCX has become the number one commodity exchange with 87% market share and 7th largest commodity futures exchange in the world. Ms Ramesh said the capital market is also attracting the entry of big corporates due to the high margins in trading and broking.
Offering career tips to students, she said, " If you want to become an entrepreneur, the essential virtue is to have the risk taking abilities. True winners in the capital market are the participants who possess virtues like knowledge, passion, discipline, hard work & perseverance and conviction".
Source : The Economic Times, Dated 24th August 2009.
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