NDTV Profit Ignite: Diwali Edition brought together market experts, investors, business leaders and policymakers in Mumbai to discuss India’s stock market outlook, investment opportunities and wealth creation during the new Samvat.

According to a press release issued by NDTV today, the event opened with a ceremonial bell-ringing by NSE MD and CEO Ashish Kumar Chauhan and actress Tamannaah Bhatia. More than 150 industry leaders, policymakers and institutional investors attended the event.

The discussions took place amid an 11.8 percent decline in the Nifty during the Samvat, global economic uncertainty and foreign capital outflows. Speakers discussed the impact of global artificial intelligence (AI) investments, the weakening rupee and the outlook for corporate earnings, while sharing their views on India’s long-term wealth creation potential.

SEBI Chairman Tuhin Kanta Pandey highlighted the need to make India’s capital markets more accessible. He said approximately 2,000 companies could be prepared for listing and stressed the importance of reducing compliance costs and simplifying the process for foreign investors. He also emphasised investor protection, greater awareness of the risks associated with derivatives trading and action against misleading financial influencers.

Ashish Kumar Chauhan discussed how the global AI investment cycle is influencing capital flows. He observed that although India currently lacks a prominent domestic AI investment narrative, its markets could benefit if the global AI investment trend begins to unwind.

Veteran investor Ramesh Damani discussed the possibility of short-term market volatility due to the US midterm elections and geopolitical developments. However, he maintained his long-term confidence in India. He also pointed to the Indian market’s historical rise of approximately fivefold every decade, noting that market returns do not follow a straight line and periods of underperformance can precede stronger gains.

S. Naren of ICICI Prudential AMC discussed contrarian investing, suggesting that investors could consider reducing their exposure to the US AI theme and examining underperforming markets such as India. He identified financial services, insurance, fast-moving consumer goods (FMCG) and information technology (IT) as sectors offering potential contrarian opportunities.

Motilal Oswal co-founder Raamdeo Agrawal emphasised that continued corporate earnings growth would need to be reflected in market performance. Meanwhile, Quant Mutual Fund founder Sandeep Tandon suggested that the worst of the market correction could be behind investors. Both Tandon and investor Vijay Kedia stressed the importance of selecting stocks carefully, noting that an improving market outlook does not make every stock an attractive investment.

Rahul Kanwal, CEO and Editor-in-Chief of NDTV, said the growing participation of Indians in capital markets has increased the need for credible information and informed scrutiny. He said NDTV Profit Ignite aims to help audiences understand the opportunities and risks involved in financial decisions.

Tamanna Inamdar, Managing Editor of NDTV Profit, said the event had become a major gathering of the season in just three years. She noted that discussions with experienced market participants were particularly relevant amid global uncertainty. She added that the message entering the new Samvat was to remain focused on India’s long-term growth potential despite a challenging global outlook.

The event also featured a discussion on entrepreneurship with actress and entrepreneur Tamannaah Bhatia, who spoke about her jewellery venture, Tamannaah Fine Jewellery. In a conversation with Inamdar, she discussed her family background in business, her interest in jewellery and the gap she identified in the market. She described her role in the venture as that of a creative director, reflecting her close involvement in the design process.

Harvard Business School Professor Ranjay Gulati discussed leadership during periods of disruption, including the growth of AI. He explained the difference between measurable risks and uncertainty and explored how individuals and organisations can prepare to take action despite fear.

NDTV Profit Ignite: Diwali Edition examined the challenges facing investors and the opportunities within India’s long-term growth story. The event reinforced NDTV Profit’s focus on helping audiences make informed financial decisions through journalism and discussions on markets, business and the economy.