Indian entrepreneurs require indigenous investment: BSE

Kolkata, June 27 (IANS) Citing availability of funds for entrepreneurs as a key concern for India, a senior official with the Bombay Stock Exchange (BSE) said productive investment from resident Indians would be enough to fund start-ups and expansion projects of businesses.

“If investment worth $600 million is done in capital markets, banks, investment funds and others over a period of seven years, Indian entrepreneurs will not have to look for foreign investment,” said Ashish Chauhan, managing director and CEO of BSE, at an event organised by CII here.

He said investment in gold and silver was unproductive as it was not leading to the growth of capital markets.

He also said the $600 million investment could create 15 million new jobs every year over a period of seven years.

“Job creation will remain a challenge for India. And to address it, simply ‘skilling’ up the labour force will not be enough. We need entrepreneurs in the country who will create new job avenues,” he said.

Chauhan said BSE needs to work not just towards trading but ensuring raising of funds for budding businesses.

“BSE has to work towards ensuring $150 million each year can be availed of by the entrepreneurs,” he said.

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