'India’s best no longer look beyond borders'

The past quarter century has been seminal for India, which has been transformed from “an economy with promise” to being on the cusp of becoming the third largest one after the US and China, Satyan Gajwani, vice chairman, Times Internet, said in his welcome address at the ET Awards for Corporate Excellence 2023.

“Today, we mark 25 years since the founding of the ET Awards,” he said. “Way back in 1998, when we launched this endeavour to celebrate the best of Indian business, the Sensex hovered around 4,000 points — it has grown 18 times and is about to touch 75,000.”

Gajwani spoke about the remarkable growth of India’s stock markets, showcasing a news report from ET in 1998 quoting a survey result of 3,000 households that preferred selling their stocks rather than buying them.

“Look at how far we’ve come. Today, public markets are seeing record participation across all income levels, and retail investors are becoming savvier and more discerning. And even in our private markets, equity as a form of compensation is trusted, valued, and in many cases expected for our most competitive job opportunities,” he said. “I’m quite sure that if we went back 25 years, and had the AI simulation engines we have today, it could not have predicted what India has become... The confident, bold, ambitious, and unafraid nation that is becoming a leading global force.”

Gajwani highlighted India’s burgeoning startup ecosystem, which has persuaded talent to stay in the country. “And most of all, the best and brightest of India no longer feel compelled to look beyond our borders for professional growth, seeing the potential to make a real impact here at home.”

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