Market volatility will be reduced after every phase of elections, Jaishankar expresses confidence
Regarding the ongoing volatility in the Indian stock market, Minister of External Affairs S Jaishankar on Monday expressed confidence that markets would stabilize after the election results.
ANI
May 13, 2024 16:09 IST
Mumbai (Maharashtra) [India], May 13 (ANI): Regarding the ongoing volatility in the Indian stock market, Minister of External Affairs S Jaishankar on Monday expressed confidence that markets would stabilize after the election results.
He said, "To me it is clear where the elections are going, people may debate on the exact election numbers but I'm very sure as round after round the markets will be less and less volatile."
He was speaking at a NSE seminar on 'Indian Capital Markets: Road Map For Viksit Bharat'.
According to market experts, the prevailing uncertainty among stock market investors stems from the ongoing parliamentary elections in India and has sustained selling pressure in the market since last week.
Jaishankar also showed confidence for private investments by stating a further boost strengthening of investments post-election outcome.
"I definitely see much more foreign investment coming in, but right now investors are waiting for June 4 outcome and then they will take a call," he remarked.
During the event he also highlighted the future trade priorities, he points out about India's commitment to prioritizing a Free Trade Agreement (FTA) with the European Union (EU).
He acknowledged the complexities of such an agreement, stating, "An FTA with EU is the most difficult FTA, most complex FTA to do because there are lot of non-trade issues involved in FTA."
He further added, "My expectation is that if all goes well with us, it would definitely be one of our trade priorities". (ANI)
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