'Businesses can be built without balance sheet': NSE MD and CEO Ashishkumar Chauhan at WION World Pulse summit
&imwidth=600&imheight=450&format=webp&quality=medium "'Businesses can be built without balance sheet': NSE MD and CEO Ashishkumar Chauhan at WION World Pulse summit")
National Stock Exchange (NSE) MD & CEO Ashishkumar Chauhan at WION’s World PULSE. Photograph: (WION)
National Stock Exchange (NSE) MD & CEO Ashishkumar Chauhan emphasised that modern-day capitalism is less dependent on capital and more driven by ideas and innovation, as companies like Zomato and Swiggy came out with no money but became 10-20-50 billion dollar companies.
India's National Stock Exchange (NSE) MD & CEO Ashishkumar Chauhan, speaking at WION’s World Pulse summit, said on Wednesday (Mar 18) that the nature of capitalism has undergone a significant transformation, allowing businesses to scale without the traditional requirement of large capital or strong balance sheets. Responding to a question at the panel disussion ‘Economy Pulse’, he said, Chauhan highlighted how technological advancements have reshaped entrepreneurship over the decades.
Chauhan said, "I watch businesses go up, raising funds over the last 35 years. In the early days, 50-100 years back, you required a lot of money to make more money that's what is called capitalism. In the early 90s, people began experimenting with new styles of businesses which were IT-driven after the advancement of new technology. Some came to start businesses with their engineering degree and began making 100-200 billion dollars in the last 30 years."
Capitalism doesn't require capital: Ashishkumar Chauhan
He further emphasised that modern-day capitalism is less dependent on capital and more driven by ideas and innovation. "Earlier capitalism required capital, but today capitalism doesn't require capital. That's why, without a balance sheet, you can create businesses. When Infosys came in 1993 with its IPO, it failed because nobody knew how the IT business would work. Recently, Zomato, Swiggy, and many others came out of nowhere with no money at all, and they started with very small, without capital, without a balance sheet, and they became 10-20-50 billion dollar companies. And I have seen this in every sector. That's why, for me, modern India with modern technology allows you to create very large-scale businesses. If you preserve your ideas, NSE will raise money for you," he added.
WION World Pulse
On Wednesday (Mar 18), WION World PULSE came together with the policymakers, diplomats and industry leaders from different sectors at a time of heightened global uncertainty. The global thought leadership forum came at a time when globally the lines between geopolitics, economics and technology are increasingly blurred.
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The dynamic event began with a keynote address by Dr Subhash Chandra, Founder and Mentor of Zee Group and Former Rajya Sabha member. Addressing the diverse audience, Dr Chandra noted that "we are in an era of information overload" and in times like these, "diplomacy needs credible global platforms like WION".
